EUR/USD (Euro/US Dollar) Buy
EUR/USD shows a weak upward trend, developing a buying movement formed in the short and medium term, and has updated the highest level since April 10. It is currently testing 1.0820, and investors are waiting for the release of today’s macroeconomic statistics. The market is focused on the Eurozone’s Q1 GDP, March industrial production statistics, and Q1 employment data. As the US trading session begins, attention will shift to US inflation statistics, with forecasts for the Consumer Price Index (CPI) and core CPI. Yesterday’s US producer inflation data also impacts the market.
GBP/USD (British Pound/US Dollar) Buy
GBP/USD is trading around 1.2600, maintaining its highest level since May 3. The previous day saw a temporary dominance of selling movements, but it later showed quite an active rise. Investors are focused on UK labor market data from March to April, observing employment declines, an increase in jobless claims, and rising wages. This keeps the UK labor market tense and could lead to monetary policy easing by the Bank of England. Today’s focus is on the US April inflation statistics, which could significantly impact the Federal Reserve’s future monetary policy.
AUD/USD (Australian Dollar/US Dollar) Strong Buy
AUD/USD shows a strong upward trend, developing a buy signal formed again at the beginning of this week. It is currently testing 0.6650, updating the highest level since March 8. However, market activity is restrained as investors await the release of US inflation statistics. Forecasts indicate that the April CPI will slow down annually and remain unchanged monthly. Yesterday’s US producer inflation data also impacts the market. Australia’s wage price index came in below expectations, attracting investor attention.
USD/JPY (US Dollar/Japanese Yen) Sell
USD/JPY weakened during the Asian session, adjusting after an active short-term rise. Some investors closed long positions as a risk hedge before the release of US inflation statistics. Forecasts suggest that annual inflation will slightly decelerate and remain unchanged monthly, possibly adjusting expectations for a Federal Reserve rate cut. Yesterday’s US Producer Price Index data also impacts the market. Japan’s Q1 GDP data is scheduled for release and is also being closely watched.
XAU/USD (Gold/US Dollar) Neutral
XAU/USD shows mixed trading trends, hovering around 2360.00. Investors are awaiting the release of US inflation statistics, which may influence future Federal Reserve borrowing costs. Forecasts suggest that the annual CPI will slightly decelerate, with a further 0.4% monthly increase. Yesterday’s producer inflation data also impacts the market, with the core Producer Price Index showing a significant annual rise.
