Alone in studio, Merlin looks to answer several listener questions covering a wide variety of currencies and commodities. Merlin focuses on the Euro, and offers some insights as to what to expect from the ECB press conference on Thursday. He also looks at gold and the potential to jump on the momentum.
Editors’ Picks
AUD/USD retreats from four-month highs after higher Unemployment Rate
The AUD/USD snapped its three-day winning streak, trading around 0.6680 after the higher-than-expected Aussie Unemployment Rate on Thursday, which rose to 4.1% in April from the previous reading of 3.9%.
USD/JPY trims losses below 154.50 following Japan’s GDP data
USD/JPY trims losses near 154.45 during the Asian session on Thursday. The softer US CPI inflation data has exerted some selling pressure on the US Dollar. However, the major pair recovers modestly following the recent weaker-than-expected Japan’s Gross Domestic Product in the first quarter of 2024.
Gold rally continues with buyers eyeing $2,400 as inflation recedes
Gold price extended its uptrend for the second straight day on Wednesday and hit a three-week high of $2,390 after data revealed by the US Bureau of Labor Statistics showed inflation is ebbing, increasing the odds for a Federal Reserve rate cut in 2024.
DOGE’s 15% upside potential hinges on Bitcoin holding above $65K
Dogecoin price is trading with a bullish bias, leading meme coins north as sector bulls resurface. This show of hand comes after Bitcoin price broke past the $65,000 threshold and could extend if the pioneer cryptocurrency holds above this level.
Dow Jones Industrial Average soars 350 points, sets new all-time high as rate cut hopes surge
The Dow Jones Industrial Average clipped into a fresh all-time high on Wednesday, gaining almost nine-tenths of a percent during the US market session after US Consumer Price Index inflation slipped further back.
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