Dale J Pinkert
Independent Analyst
TradeGateHub Live Trading: The EUR/USD pair is treading water, with a buy opportunity on weakness at 1.0730. Today, Coach analyzes the significant recovery in stock indices, breaking down the FX market with a focus on the Yen and its correlation with US interest rates. Additionally, he is closely watching for potential short opportunities in gold as it reaches new highs.
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AUD/USD recovers above 0.6300 as US Dollar retreats
AUD/USD has turned positive and regains 0.6300 in Thursday's Asian session. The US Dollar sees a sharp pullback from three-week highs after US President Trump announced some tariff exemptions on auto part imports, supporting the pair. However, buyers remain caution amid fears of global trade war escalation.
USD/JPY drops to test 150.00, tracks US Dollar pull
USD/JPY is dropping to test 150.00 in the Asian session on Thursday. The pair meets fresh supply in tandem with the US Dollar on US President Trump's latest tariff exemption announcement. Further, hawkish BoJ bets and the risk-off impulse also underpin the safe-haven Japanese Yen, aiding the latest leg down
Gold awaits US PCE inflation data for a sustained move higher
The gold price is finding fresh demand above $3,000 early Thursday, following a lacklustre performance on Wednesday. Gold buyers try their luck and aim for the record high of $3,058 once again as they near Friday’s US inflation test.
Stablecoin mania kicks off as Wyoming and Fidelity join the race
According to Governor Mark Gordon, the state of Wyoming has joined the race for a stablecoin, following plans to launch WYST, a US Dollar-backed token in July. WYST will be fully backed by US Treasuries, cash, and repurchase agreements, with a capitalization requirement of at least 102%.
Sticky UK services inflation shows signs of tax hike impact
There are tentative signs that the forthcoming rise in employer National Insurance is having an impact on service sector inflation, which came in a tad higher than expected in February. It should still fall back in the second quarter, though, keeping the Bank of England on track for three further rate cuts this year.
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