Many market experts are calling for a MUCH higher dollar, and this could have significant impacts for the markets. John O’Donnell joins Merlin Rothfeld for a breakdown of how this might impact: Oil, Gold, bonds, global currencies and much more.
Editors’ Picks
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
GBP/USD clinches fresh 2024 highs around 1.3430
Further upside sees GBP/USD rise past the 1.3400 barrier and revisit levels last traded in March 2022 in response to the firm risk appetite trend and the small losses in the Greenback.
USD/JPY: Fails to clear 145.00, forms ‘doji’ pattern
The USD/JPY remains subdued after seesawing within a 110-pip range, where the pair hit a three-week high of 145.21. Uncertainty around the Japanese election has overshadowed speeches by Bank of Japan (BoJ) officials, who decided to hold rates unchanged last week. At the time of writing, the major trades at 144.72, flat.
Editors’ Picks
AUD/USD: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Bitcoin displays bullish signals amid supportive macroeconomic developments and growing institutional demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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