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Summary
The USD/JPY pair reached our first profit target of 114.29 on Wednesday, as did the AUD/USD pair at 0.7336 and EUR/USD at 1.0867. The NZD/USD pair dropped massively as the RBNZ kept rates unchanged at 1.75% earlier during today’s Sydney session. Coming up today we are looking at Switzerland’s Consumer Price Index out at 7:15 AM GMT followed by the UK Industrial Production (YoY) (MAR) at 8:30 AM. Bank of England Rate Decision (MAY 11) will be up next at 11 AM, expected to keep rates unchanged at 0.25%. The US weekly jobs report could shake the USD crosses later at 12:30 PM GMT. Thanks for watching and I wish you the best of luck making pips by trading forex.
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Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.