4 weeks ago, Joanne was a guest on the show and talked about why she felt the market was headed for higher highs. Well, the markets have had a nice run since then! We talk to Joanne again to see if her opinion about market direction has changed, or if it’s still bullish. Merlin and Joanne also take a look at several listener questions including: WPZ, HOT, and the divergence between the Russell2000 and the Dow 30.
Editors’ Picks
EUR/USD gathers strength to near 1.1400 ahead of German data, US PCE releases
The EUR/USD pair gains ground to near 1.1390 during the early Asian session on Wednesday. The US Dollar edges lower against the Euro due to softer-than-expected US economic data. The German economic data and US Personal Consumption Expenditures - Price Index report for March will be in the spotlight later on Wednesday.
GBP/USD picks up pace and surpasses 1.3400
GBP/USD now manages to regain balance and advances past the key 1.3400 barrier following the resurgence of some selling bias around the Greenback and a widespread recovery in the risk-associated universe.
USD/JPY consolidates above 142.00 as traders keenly await BoJ policy update
USD/JPY struggles to capitalize on the previous day's modest uptick and oscillates in a narrow band on Wednesday as traders move to the sidelines ahead of the crucial BoJ policy meeting. The divergent BoJ-Fed expectations and trade-related uncertainties support the JPY and cap the pair amid the underlying USD bearish sentiment.
Editors’ Picks
AUD/USD remains confined in a familiar range ahead of Australian CPI
AUD/USD ticks higher during the Asian session on Wednesday and stalls the sharp pullback from a fresh YTD top touched the previous day. Hopes for a trade deal remain supportive of a positive risk tone and support the pair amid subdued USD demand. However, mixed signals regarding US-China trade talks act as a headwind for the Aussie.
USD/JPY consolidates above 142.00 as traders keenly await BoJ policy update
USD/JPY struggles to capitalize on the previous day's modest uptick and oscillates in a narrow band on Wednesday as traders move to the sidelines ahead of the crucial BoJ policy meeting. The divergent BoJ-Fed expectations and trade-related uncertainties support the JPY and cap the pair amid the underlying USD bearish sentiment.
Gold drifts lower to near $3,310 ahead of key US data releases
Gold price extends the decline to near $3,315 during the early Asian session on Wednesday. The precious metal edges lower amid easing trade tensions and better risk sentiment in global markets. Traders will keep an eye on the US ADP Employment Change, PCE and the flash Q1 GDP reports later on the day.
Ethereum short traders move $270M as BlackRock buys $1B BTC in 24 Hours
Ethereum price outperforms Bitcoin on Tuesday, with a 2% rally to the new monthly timeframe peak of $1,837. Derivatives markets data shows the ETH upswing coincides with traders closing large volumes of short positions.
May flashlight for the FOMC blackout period – Waiting for the fog to lift
We expect the FOMC will leave its target range for the federal funds rate unchanged at 4.25-4.50% at its upcoming meeting on May 6-7, a view widely shared by financial markets and economists. Market pricing currently implies only a 9% probability of the FOMC cutting the fed funds rate by 25 bps.
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