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Summary
Things are not looking that great in the US economy and the dollar begins letting it go. However, the main culprit regarding the dollar's fall is the US President. Every day is followed by a new revelation, with the FBI firing and the disclosure of classified data hurting. Other major currencies are stable but also feel some pressure. And for a change, commodity currencies are enjoying a recovery, rising with the price of oil on hopes for an extension of cuts. Commodity currencies remain in the limelight with the Australian jobs report ant the Canadian inflation data. And of course, we have top-tier UK data coming up.
Watch full analysis: Live Europe Market: USD on the back foot on Trump, the economy
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EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.