Good morning. Hope all is well. We couldn’t get our forecast our for yesterday due to a data issue. We seem to had a moderate forecast for Monday with 4 out of the 7 pairs going in our way. USDCAD, EURJPY and the two Oceanic Pairs were the good guys. As we had thought we did have a sidelined US Dollar due to the bank holiday in the US. US Dollar pairs are on our watch list due to our fundamental watch today, we have three news items that are coming out that could fuel these markets. Today we could be in for strong US Dollar while Japanese Yen could be on the weak side. Adding two hedged pairs to offset the trading risk. Happy Trading!
Forecasts Outlook
US Dollar: Strong
Today we're expecting the EURUSD to proceed Short below the barrier levels of 1.36258 and 1.36557.
Fundamental Watch
- Prelim GDP q/q
- Unemployment Claims
- Pending Home Sales m/m
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Editors’ Picks
EUR/USD remains offered and below 1.1300
EUR/USD is feeling the squeeze, revisiting the area around 1.1280 as the US Dollar gains extra momentum on Tuesday. Mixed domestic data from Industrial Production and Economic Sentiment haven't done the Euro any favours either.
GBP/USD keeps the bullish stance in the low-1.3200s
After hitting fresh six-month peaks near 1.3250, GBP/USD is now under a tepid selling pressure due to a strong comeback in the Greenback, causing it to retreat toward the 1.3200 support area. Next on the UK docket are inflation figures, expected to be released on Wednesday.
Gold embarks on a consolidative move around $3,200
Gold is holding its own on Tuesday, trading just above $3,200 per troy ounce as it bounces back from earlier losses. While a more upbeat risk sentiment is bolstering the rebound, lingering concerns over a deepening global trade rift have prevented XAU/USD from rallying too aggressively.
XRP, Dogecoin and Mantra traders punished for bullish bets, will altcoins recover?
Altcoins are recovering on Tuesday as the dust settles on US President Donald Trump’s tariff announcements last week. The President has repeatedly changed his mind on several tariff-related concerns, ushering volatility in Bitcoin and altcoin prices.
Is a recession looming?
Wall Street skyrockets after Trump announces tariff delay. But gains remain limited as Trade War with China continues. Recession odds have eased, but investors remain fearful. The worst may not be over, deeper market wounds still possible.
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