〇 EUR/USD: Sell – Observing Stance
The EUR/USD pair is showing slight corrective growth around 1.0745, but market participants are awaiting the outcome of the European Central Bank (ECB) meeting. The increase in US Consumer Price Index, as indicated by the inflation statistics, is dampening expectations of a rate cut by the Federal Reserve.
GBP/USD: Sell – Slight Increase
The GBP/USD pair has recovered from yesterday’s sharp decline and is testing a breakout at 1.2545. Investors are awaiting the US Producer Price Index data, which could strengthen the position of the dollar.
AUD/USD: Buy – Uncertain Recovery
The AUD/USD pair is stabilizing around 0.6516, attempting an uncertain recovery after the downward trend caused by yesterday’s US inflation data. Market focus is also on statistics from Australia and China.
USD/JPY: Buy – Retreating from Highs
The USD/JPY pair is retreating from the record high of 153.20, attempting to stabilize below 153.00 amidst concerns of currency intervention by the Bank of Japan. Strong US inflation data suggests a postponement of a rate cut decision by the Federal Reserve.
XAU/USD: Strong Buy – Resuming Growth
The XAU/USD pair is showing renewed growth, refraining from stabilizing near recent highs as strong US inflation data could delay the start of monetary easing by the Federal Reserve. Investors are focused on the outcome of the ECB meeting and the US Producer Price Index data today.
