Things to Know

Last update at 09:15 GMT
  • US economic growth forecast to be stable in the first quarter.
  • Improved consumer attitudes and retail sales give reason for optimism.
  • Labor market key to economic growth.

  • EUR/USD staged a limited recovery after hitting 22-month lows.
  • US GDP is left, right, and center, and expected to be robust.
  • The four-hour chart shows EUR/USD exited oversold conditions.
  • GBP/USD is trading above 1.2900, recovering from the lows.
  • The Brexit impasse continues and the US GDP is set to shine. 
  • The technical picture is decidedly bearish for the pair.

  • A modest USD pullback from near 2-year tops helped ease the bearish pressure.
  • RBA rate cut speculations offset US-China trade optimism and might cap gains.
  • Investors now eye the key US Q1 GDP report for some meaningful trading impetus..

  • BTC/USD clinches to an important support area.
  • A move above $5,350 will mitigate initial bearish pressure. Bitcoin (BTC) is hovering around $5,200 handle amid shrinking volatility.
  • The first digital asset tested area below $5,000 during late Thursday hours, but the strong orders located on approach to the psychological handle initiated the recovery.
  • A modest USD pullback from near two-year tops helped regain positive traction.
  • Cautious mood further underpins safe-haven demand and remained supportive.
  • Focus remains on today’s important release of the advance US Q1 GDP report.

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