EUR/USD: Buy – Uncertain Trends The EUR/USD pair is showing consolidation around 1.0850 as market activity is subdued ahead of the release of US inflation statistics. Consumer Price Index is expected to increase from 3.2% to 3.4% annually, with a decrease from 0.4% to 0.3% monthly. Attention will be on the minutes of the Federal Reserve’s March monetary policy meeting today.
GBP/USD: Buy – Little Change The GBP/USD pair is trading around 1.2675, with the market evaluating the results of the US labor market report and future trends. While UK retail sales showed better-than-expected growth, the dollar has gradually strengthened since the start of the US trading session.
AUD/USD: Strong Sell – Slight Increase The AUD/USD pair is attempting to break out above 0.6600, continuing the bullish momentum formed recently. Today’s macroeconomic statistics were mostly negative, but data indicating a recovery in the construction sector provided some support.
USD/JPY: Buy – Mixed Trading The USD/JPY pair is cautious about opening new positions ahead of the release of US inflation statistics today. Strong Consumer Price Index data may pose a barrier to a rate cut by the Federal Reserve in June.
XAU/USD: Strong Sell – Continues Mild Upside The XAU/USD pair is testing a breakout above 2360.00, updating new record highs. Market attention is focused on today’s US inflation statistics and the minutes of the Federal Reserve’s March meeting.
