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Australian Dollar holds position near a psychological level, US Consumer Sentiment eyed
The Australian Dollar retreated due to the recovery of the US Dollar on Friday. The Australian Dollar is facing pressure due to the RBA's less hawkish stance on monetary policy. The US Dollar rebounded due to the expectations of the hawkish Fed maintaining higher rates for longer.
EUR/USD: Optimism surges ahead of the United States Consumer Price Index
An uneventful week ended with some more action, as choppy trading prevailed until Thursday. EUR/USD seesawed in a tight range just above the 1.0700 threshold for most of the week, with the US Dollar finally giving up and extending its slide while heading into the weekly close.
FXS SIGNALS
Deeper dive
Like there’s no tomorrow: Unpacking consumer credit
The recent run-up in revolving debt combined with the much higher financing costs raises doubts about the ability of credit to continue to make up for the shortfall between modest real income growth and aspirational spending.
Inventories are quiet, a little too quiet
The economy is in the midst of an unusually calm stretch with respect to inventory investment. It is like the point in the scary movie when someone points out that all the forest creatures have gotten quiet.
Softer growth, cooler inflation and rate cuts remain on the horizon
Economic growth in the United States appears to be in solid shape. Although real GDP growth came in well below consensus expectations and amounted to just 1.6% annualized in Q1-2024.
upcoming calendar events
REAL-TIME RATES
CRYPTO KEYS
Could Worldcoin price shoot up 45% ahead of OpenAI’s live stream on Monday?
Worldcoin has formed a double bottom around a key support level, suggesting a potential accumulation. If the OpenAI’s Monday live stream has a positive impact on Artificial Intelligence field, it could positively impact WLD and other AI-based tokens.
Here’s what needs to happen for The Graph price to revisit $0.422
The Graph price trades inside the $0.192 to $0.494 range. Investors need to wait for GRT to overcome $0.343 before being bullish on GRT. If successful, GRT could rally 50% and revisit the $0.422 hurdle. A decisive daily candlestick close below $0.192 will invalidate the bullish thesis.
SingularityNET price could bounce 30% if AGIX can hold this level
SingularityNET price has been consolidating around the bottom of the $0.903 to $1.475 range for nearly a month. With some AI-tokens showing signs of revival, AGIX needs to be enalyzed for potential breakout opportunities like Arkham (ARKM).