Good morning. Hope all is well! We seem to have had a bit of a turmoil on our forecast for yesterday with only a 29% accuracy on our predictions. This was mainly due to the markets sidelining through the day, we did end up taking a mixed stance on our directions for yesterday. Japanese Yen, British Pound, Euro and US Dollar pairs are on our watch list today on account of the fundamental watch. We could see a weak US Dollar and Japanese Yen. Not adding any hedged pairs to offset the risk. Happy Trading!
Forecasts Outlook
US Dollar: Weak
Today we're expecting the EURUSD to proceed Long above the barrier levels of 1.11105 and 1.10812.
Fundamental Watch
– FOMC Meeting Minutes
– French Flash Manufacturing PMI
– German Flash Manufacturing PMI
– Retail Sales m/m
– ECB Monetary Policy Meeting Accounts
– Unemployment Claims
– Existing Home Sales
– Philly Fed Manufacturing Index
– Monetary Policy Statement
– BOJ Press Conference
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Editors’ Picks
EUR/USD declines below 1.0700 as USD recovery continues
EUR/USD lost its traction and declined below 1.0700 after spending the first half of the day in a tight channel. The US Dollar extends its recovery following the strong Unit Labor Costs data and weighs on the pair ahead of Friday's jobs report.
GBP/USD struggles to hold above 1.2500
GBP/USD turned south and dropped below 1.2500 in the American session on Thursday. The US Dollar continues to push higher following the Fed-inspired decline on Wednesday and doesn't allow the pair to regain its traction.
Gold stuck around $2,300 as market players lack directional conviction
Gold extended its daily slide and dropped below $2,290 in the second half of the day on Thursday. The benchmark 10-year US Treasury bond yield erased its daily losses after US data, causing XAU/USD to stretch lower ahead of Friday's US jobs data.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple coils up for a move north as XRP bulls defend $0.5000.
Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.