Stronger than expected Manuf ISM and consumer sentiment figures from the US are further empowering the notion that the US growth exceeds that in Europe and Japan, boosting the US dollar across the board. This is also used to explain why both USD and equities are pushing higher. Markets expect the sequester deadline will be avoided and another temporary solution will be introduced. Meanwhile, the Italian election impasse is expected to persist until Mid March when a temporary govt is appointed until a possible 2nd round of elections in June. 7 Premium trades hit their final targets over the last 24 hours: Both shorts in GBPUSD hit their targets of 1.5010 & 1.5100 (entries at 1.5170 and 1.5220). Gold hit 1580 & 1567 (entries at 1620 & 1597). Silver hit 28.00 from 29.10 entry. The EURGBP long at 0.8590 missed the final 0.8690 by 3 pips and remains in progress. Oil short at 93.20 hit final target of 92.00, while the 93.40 missed the fill by 3 pips. Yesterday's 2 shorts in EURUSD from 1.3110 to 1.3040 missed the fill by 7 pips, while both longs remain in progress.
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EUR/USD hovers near 1.0700 even as USD struggles ahead of data
EUR/USD has erased gains to trade flat near 1.0700 in the European session on Thursday. The pair comes under pressure even as the US Dollar struggles, in the aftermath of the Fed policy announcements and ahead of more US employment data.
GBP/USD turns south toward 1.2500, US data eyed
GBP/USD is consolidating the rebound above 1.2500 in European trading on Thursday. The pair struggles, despite the US Dollar weakness on dovish Fed signals. A mixed market mood caps the GBP/USD upside ahead of mid-tier US data.
Gold price pulls back as market sentiment improves
The Gold price is trading in the $2,310s on Thursday after retracing about three-tenths of a percent on reduced safe-haven demand. Market sentiment is overall positive as Asian stocks on balance closed higher and Oil prices hover at seven-week lows.
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.