The USD/JPY pair is trading near 148.30, preparing for weekend gains within a weekly uptrend. Higher-than-expected US inflation data is casting doubt on the Federal Reserve’s plan to cut interest rates in June.
XAU/USD: Neutral – Under Pressure from US Producer Price Index
The XAU/USD pair is preparing for a slight weekend decline near 2165.00. Statistics from the US Producer Price Index are raising questions about the Federal Reserve’s potential shift towards dovish remarks.
EUR/USD: Strong Buy – Awaiting Key Inflation Data and ECB Speech
The EUR/USD pair is experiencing a slight decline, testing a breakdown at 1.0875. Attention is focused on inflation data from France and Italy, as well as a speech by ECB Chief Economist Philip Lane. Meanwhile, US industrial production and the University of Michigan’s consumer sentiment index for February are scheduled for release.
GBP/USD: Buy – Weekend Preparations Amid Downtrend
The GBP/USD pair is descending, attempting a breakdown at 1.2740 and updating its lows from March 7th. Higher-than-expected US inflation data is diminishing expectations for Fed monetary adjustments.
NZD/USD: Sell – Amidst Strong Bearish Trend
The NZD/USD pair is declining, reflecting the weekly downtrend and updating its lows from March 6th. Despite positive manufacturing PMI data from New Zealand, pressure from US Producer Price Index data is affecting the quote.
