EUR/USD: Buy – Movement within range The Euro/US Dollar pair shows consolidation near 1.0855, as strong US labor market reports have dampened expectations for Federal Reserve easing. Meanwhile, lower-than-expected retail sales data in the Eurozone added pressure on the Euro. Today’s focus is on France’s foreign trade statistics and the Eurozone bank lending survey.
GBP/USD: Buy – Almost no change The British Pound/US Dollar pair is trading near 1.2630, attempting a recovery following the US labor market report, but market participants await new signals. Attention is particularly drawn to tomorrow’s release of the US March Consumer Price Index.
AUD/USD: Buy – Slight growth The Australian Dollar/US Dollar pair is attempting to break out above 0.6600, continuing the “bullish” momentum formed recently. Macroeconomic statistics released today were mostly negative, with consumer confidence and business conditions falling below expectations, but increased home loans provided some support.
USD/JPY: Sell – Continuing upward trend The US Dollar/Japanese Yen pair is trading around 152.00, hesitating to open new long positions amid concerns about intervention from the Bank of Japan. This week’s release of US inflation data may provide additional clarity on the Federal Reserve’s outlook for interest rate cuts.
XAU/USD: Neutral – Gentle upward movement The Gold/US Dollar pair is testing a breakout above 2345.00, continuing to set new record highs based on recent “bullish” momentum. Investors’ attention is on tomorrow’s release of US March inflation statistics, with expectations for an acceleration in the Consumer Price Index on an annual basis.
