US inflation, ECB decision are the major events on today’s economic calendar. I discuss why a strong inflation read may not be a problem for the risk appetite and which assets are among Swissquote’s best picks to play the inflation theme. Bitcoin continues seeing solid selling pressure and strong resistance in its attempts to conquer the $40K mark. What’s next?

 

This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.

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Editors’ Picks

EUR/USD looks depressed below 1.2200 ahead of ECB, US inflation

EUR/USD remains on the back foot below 1.2200 ahead of a busy docket. The US dollar shrugs off weaker Treasury yields. The ECB eyed for economic outlook. The US CPI needs stronger-than-forecast print to keep the dollar afloat.

EUR/USD News

GBP/USD remains poised to drop below 1.4100, US CPI eyed

GBP/USD treads water above 1.4100 ahead of the London open. The US dollar remains steady and exerts pressure on the pair. Brexit concerns, Delta strain added to the British pound struggle. US inflation awaited.

GBP/USD News

XAU/USD off lows, not out of the woods yet ahead of US inflation

Gold price is attempting a minor bounce, having witnessed a steep drop following a break below the critical 21-DMA support at 1883. At the time of writing, gold price is trading 0.50% lower at $1880, looking to recapture the 21-DMA.

Gold News

Three reasons why Shiba Inu price may be ready to rally

Shiba Inu price decline has not been matched by increasing volume, suggesting it is not token specific. ShibaSwap decentralized cryptocurrency exchange (DEX) in testing mode, to be released to the public soon. Social volume stabilizes during another period of price weakness. 

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US CPI May Preview: Inflation angst is coming

When the Federal Reserve moved its price measurement to inflation averaging last September the governors were carefully insulating rate policy from this year’s expected acceleration in consumer costs. 

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