Good morning. Hope all is well! We seem to have had a borderline forecast for Friday last week with a 57% accuracy. Apologies we couldn’t get our forecast out yesterday due to a technical issue. Through the last two days the US Dollar had gathered a little steam while Japanese Yen has been on a sidelined path. US is overall on the weak side while Japanese Yen is on the strong. Due to the fundamentals the two Oceanic pairs, US Dollar and Euro pairs are on our watch list for today. Could see a sidelined Japanese Yen and US Dollar. Adding three hedged pairs to offset the risk. Happy Trading!
Forecasts Outlook
US Dollar: Mixed Sentiments
Today we're expecting the EURUSD to proceed Short below the barrier levels of 1.15915 and 1.17103.
Fundamental Watch
Inflation Expectations q/q
German Ifo Business Climate
CB Consumer Confidence
Trade Balance
RBA Gov Stevens Speaks
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Editors’ Picks
EUR/USD trades above 1.0700 after EU inflation data
EUR/USD regained its traction and climbed above 1.0700 in the European session. Eurostat reported that the annual Core HICP inflation edged lower to 2.7% in April from 2.9% in March. This reading came in above the market expectation of 2.6% and supported the Euro.
GBP/USD recovers to 1.2550 despite US Dollar strength
GBP/USD is recovering losses to trade near 1.2550 in the European session on Tuesday. The pair rebounds despite a cautious risk tone and broad US Dollar strength. The focus now stays on the mid-tier US data amid a data-light UK docket.
Gold price remains depressed near $2,320 amid stronger USD, ahead of US macro data
Gold price (XAU/USD) remains depressed heading into the European session on Tuesday and is currently placed near the lower end of its daily range, just above the $2,320 level.
XRP hovers above $0.51 as Ripple motion to strike new expert materials receives SEC response
Ripple (XRP) trades broadly sideways on Tuesday after closing above $0.51 on Monday as the payment firm’s legal battle against the US Securities and Exchange Commission (SEC) persists.
Mixed earnings for Europe as battle against inflation in UK takes step forward
Corporate updates are dominating this morning after HSBC’s earnings report contained the surprise news that its CEO is stepping down after 5 years in the job. However, HSBC’s share price is rising this morning and is higher by nearly 2%.