The USD is trading mixed today with a Risk On mood permeating from Asia to Europe at the start of a shortened trading week.

 

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EUR/USD: consolidates recent gains, holds above 200-day SMA

The Euro and the US Dollar posted mixed results across the board on Wednesday. The greenback outperformed during the first half of the day after Fed rate cut expectations were tampered by comments from Fed’s officials on Tuesday.

EUR/USD News

GBP/USD recovers to 1.2700 post-UK political hustings

With the UK Prime Minister (PM) frontrunner Boris Johnson’s surprising comments on chances of the no-deal Brexit at the political hustings, followed by cross-party MPs’ plan to move forward to direct the Brexit.

GBP/USD News

USD/JPY extends the break above 108.00 on US-China trade truce news

The latest reports of a US-China trade truce triggered a renewed risk-on wave and knocked-off the Yen, with the USD/JPY pair now extending its break above the 108 handle while the focus shifts towards the US Q1 final GDP data for fresh impetus.  

USD/JPY News

US Q1 GDP Final Revision Preview: Look ahead not behind

The second revision and third version of first quarter annualized GDP is expected to be unchanged at 3.1%. The initial release was 3.2% and the first revision was 3.1%. The unexpected strength of the US economy in the first quarter came after a successful 2018.

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Gold: Off 6-year highs, but breakout on monthly chart a done deal

With the 14-day relative strength index (RSI) still holding well above 70.00, the yellow metal may drop below $1,400 in the next 24-36 hours. Also, reports of temporary US-China trade truce could weigh over the safe haven metal.

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