GBPJPY, 15-minute timeframe chart
👉General outlook
GBPJPY has been trading in a bearish trend for the last couple of hours.
👉Possible scenario
The best way to use this opportunity is to place a Sell order at 187.800.
Set your stop loss at 188.212 above the previous high ($2.94 loss for 0.01 lot) and take profit at 187.388 ($2.94 profit for 0.01 lot).
The risk-reward ratio for this order is 1:1.
The upcoming news will not influence your orders within the mentioned period.
@octa_analytics
👉General outlook
GBPJPY has been trading in a bearish trend for the last couple of hours.
👉Possible scenario
The best way to use this opportunity is to place a Sell order at 187.800.
Set your stop loss at 188.212 above the previous high ($2.94 loss for 0.01 lot) and take profit at 187.388 ($2.94 profit for 0.01 lot).
The risk-reward ratio for this order is 1:1.
The upcoming news will not influence your orders within the mentioned period.
@octa_analytics
📊 Australian dollar hits four-month high
The Australian dollar (AUD) rose by 0.27% against the U.S. dollar (USD) on Monday. Increased safe-haven demand for the Aussie after U.S. President Donald Trump called for an interest rate cut supported the rise.
👉Possible effects for traders
By Thursday, the Aussie had eased slightly towards around 0.64300. AUDUSD continued a rally that began last week following the release of weaker-than-expected Australian labour market data. Although the unemployment rate remained steady at a low 4.1%, employment growth for March fell short of forecasts. This has strengthened expectations that the Reserve Bank of Australia (RBA) will lower interest rates at its May meeting. A 25-basis-point (bps) cut is widely anticipated. Still, some market participants are beginning to price in a more aggressive 50-bps reduction amid growing fears of a global economic slowdown driven by trade tensions.
During the Asian and early European trading sessions, AUDUSD maintained upward momentum. Traders should follow upcoming speeches from European Central Bank and Federal Reserve (Fed) officials. Key technical levels to watch are resistance at 0.64500 and support at 0.64000.
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The Australian dollar (AUD) rose by 0.27% against the U.S. dollar (USD) on Monday. Increased safe-haven demand for the Aussie after U.S. President Donald Trump called for an interest rate cut supported the rise.
👉Possible effects for traders
By Thursday, the Aussie had eased slightly towards around 0.64300. AUDUSD continued a rally that began last week following the release of weaker-than-expected Australian labour market data. Although the unemployment rate remained steady at a low 4.1%, employment growth for March fell short of forecasts. This has strengthened expectations that the Reserve Bank of Australia (RBA) will lower interest rates at its May meeting. A 25-basis-point (bps) cut is widely anticipated. Still, some market participants are beginning to price in a more aggressive 50-bps reduction amid growing fears of a global economic slowdown driven by trade tensions.
During the Asian and early European trading sessions, AUDUSD maintained upward momentum. Traders should follow upcoming speeches from European Central Bank and Federal Reserve (Fed) officials. Key technical levels to watch are resistance at 0.64500 and support at 0.64000.
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📊 Euro continues to strengthen due to weak U.S. dollar
Markets will likely expect further interest rate cuts by the European Central Bank (ECB) as they believe a trade war with the U.S. will hit the eurozone economy. The ECB emphasised the worsening economic growth outlook due to trade tensions, which have caused 'exceptional uncertainty'. The regulator also removed a reference to interest rates as being 'restrictive' from its policy statement.
👉Possible effects for traders
Over the past week, we've seen a group of clients push their hedges out to the maximum available tenor as they look to lock in protection and ride out near-term instability,' said Eric Huttman, CEO of MillTechFX. The euro (EUR), which neared parity with the dollar in February, has now risen by over 10% since early March and reached 1.15400. The currency's strengthening is expected to reduce the cost of imports and ease inflationary pressures. A key measure of long-term inflation expectations—closely monitored by the ECB—now aligns with the bank's 2% target, down from 2.2% in March. The data suggests that inflation could dip below the target, potentially opening the door for further interest rate cuts.
EURUSD rose during the Asian and early European trading sessions. Today, the main focus is on the E.U. consumer confidence report at 2:00 p.m. UTC. Traders should also pay attention to the speeches of the ECB and Federal Reserve officials. Key levels for EURUSD to watch are resistance at 1.16000 and support at 1.14000.
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Markets will likely expect further interest rate cuts by the European Central Bank (ECB) as they believe a trade war with the U.S. will hit the eurozone economy. The ECB emphasised the worsening economic growth outlook due to trade tensions, which have caused 'exceptional uncertainty'. The regulator also removed a reference to interest rates as being 'restrictive' from its policy statement.
👉Possible effects for traders
Over the past week, we've seen a group of clients push their hedges out to the maximum available tenor as they look to lock in protection and ride out near-term instability,' said Eric Huttman, CEO of MillTechFX. The euro (EUR), which neared parity with the dollar in February, has now risen by over 10% since early March and reached 1.15400. The currency's strengthening is expected to reduce the cost of imports and ease inflationary pressures. A key measure of long-term inflation expectations—closely monitored by the ECB—now aligns with the bank's 2% target, down from 2.2% in March. The data suggests that inflation could dip below the target, potentially opening the door for further interest rate cuts.
EURUSD rose during the Asian and early European trading sessions. Today, the main focus is on the E.U. consumer confidence report at 2:00 p.m. UTC. Traders should also pay attention to the speeches of the ECB and Federal Reserve officials. Key levels for EURUSD to watch are resistance at 1.16000 and support at 1.14000.
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📊 The record gold rally continues
With these costs trending so nicely downward, just what I predicted they would do, there can almost be no inflation, but there can be a SLOWING of the economy unless Mr Too Late, a major loser, lowers interest rates, NOW', U.S. President Donald Trump wrote about Federal Reserve (Fed) Chair Jerome Powell on his social media platform, Truth. Trump's main goal is now to force a quick cut in interest rates to soften the effect of his tariff policies and reduce the negative impact on the economy and job market. Imposing import taxes on major trading partners has led to a drop in economic activity. After trade tariffs were introduced, the Conference Board's index of leading economic indicators fell by 0.7% in March, signalling a slowing economy.
👉Possible effects for traders
Investors have been giving a wide berth to U.S. assets amid tariff worries and Trump-Powell dramas, which has kept gold in prime position to capitalise on the dollar's woes', said Tim Waterer, chief market analyst at KCM Trade. 'There remains a chance of a pullback given the rapid rate of gains on display so far this month. But there is reason to believe that buyers will be keen on gold should a pullback occur given that high economic uncertainty remains a prevailing market theme', he added.
XAUUSD rose by 2.00% during the Asian and early European trading sessions. Investors await more Powell's statements to get clues on the U.S. interest rate path and Fed plans. However, any news around trade tariffs will likely have a stronger effect than inflation statistics. Key levels to watch are resistance at $3,500 and support at $3,460.
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With these costs trending so nicely downward, just what I predicted they would do, there can almost be no inflation, but there can be a SLOWING of the economy unless Mr Too Late, a major loser, lowers interest rates, NOW', U.S. President Donald Trump wrote about Federal Reserve (Fed) Chair Jerome Powell on his social media platform, Truth. Trump's main goal is now to force a quick cut in interest rates to soften the effect of his tariff policies and reduce the negative impact on the economy and job market. Imposing import taxes on major trading partners has led to a drop in economic activity. After trade tariffs were introduced, the Conference Board's index of leading economic indicators fell by 0.7% in March, signalling a slowing economy.
👉Possible effects for traders
Investors have been giving a wide berth to U.S. assets amid tariff worries and Trump-Powell dramas, which has kept gold in prime position to capitalise on the dollar's woes', said Tim Waterer, chief market analyst at KCM Trade. 'There remains a chance of a pullback given the rapid rate of gains on display so far this month. But there is reason to believe that buyers will be keen on gold should a pullback occur given that high economic uncertainty remains a prevailing market theme', he added.
XAUUSD rose by 2.00% during the Asian and early European trading sessions. Investors await more Powell's statements to get clues on the U.S. interest rate path and Fed plans. However, any news around trade tariffs will likely have a stronger effect than inflation statistics. Key levels to watch are resistance at $3,500 and support at $3,460.
📲 More trading opportunities in our app
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📅 Reading the economic calendar is easy. Interpreting it like a pro? That’s where the edge is
If you want to turn news into opportunity, you need to do more than just check the numbers. This guide will show you:
🧠 how to anticipate market reactions
📊 what data really moves the charts
⚙️ how to structure your strategy for news days.
Swipe through to level up your fundamental game and plan smarter trades.
Save & share this information with beginner traders. Stay tuned with @octa_analytics updates 🚀
If you want to turn news into opportunity, you need to do more than just check the numbers. This guide will show you:
🧠 how to anticipate market reactions
📊 what data really moves the charts
⚙️ how to structure your strategy for news days.
Swipe through to level up your fundamental game and plan smarter trades.
Save & share this information with beginner traders. Stay tuned with @octa_analytics updates 🚀
#economic_calendar
These events may affect the market on 23 April.
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These events may affect the market on 23 April.
🔥 Don't forget to get a 100% deposit bonus!
ETHUSD, 15-minute timeframe chart
👉General outlook
ETHUSD has been trading in a bullish trend for the last couple of hours.
👉Possible scenario
The best way to use this opportunity is to place a Buy order at 1,810.00.
Set your stop loss at 1,750.00 below the previous low ($6.00 loss for 0.01 lot) and take profit at 1,870.00 ($6.00 profit for 0.01 lot).
The risk-reward ratio for this order is 1:1.
The upcoming news will not influence your orders within the mentioned period.
@octa_analytics
👉General outlook
ETHUSD has been trading in a bullish trend for the last couple of hours.
👉Possible scenario
The best way to use this opportunity is to place a Buy order at 1,810.00.
Set your stop loss at 1,750.00 below the previous low ($6.00 loss for 0.01 lot) and take profit at 1,870.00 ($6.00 profit for 0.01 lot).
The risk-reward ratio for this order is 1:1.
The upcoming news will not influence your orders within the mentioned period.
@octa_analytics
📊 Japanese economy showed signs of growth
On Tuesday, the Japanese yen (JPY) lost more than 1% against the U.S. dollar (USD) as investors received signals of easing trade tensions between the U.S. and China.
👉Possible effects for traders
'Even if Japan and the U.S. were to discuss currency rates, there's really not much the two sides can do. It doesn't make sense to conduct currency intervention. Rate hikes are also out of the question,' said Hiroyuki Machida, director of Japan FX and commodities sales at ANZ. Meanwhile, new data from Japan revealed that private sector activity rebounded in April following a decline in March. The Japan Services Purchasing Managers' Index (PMI) rose from 50 in March towards 52.2 in April. Overall, the services sector's performance in April signalled a cautious return to economic growth.
USDJPY rose slightly during the Asian and early European trading sessions. Today, apart from tariff-related news, traders should focus on the U.S. S&P Manufacturing and Services PMI report at 1:45 p.m. UTC. It may shed light on the state of the U.S. labour market, potentially altering investors' rate-cut expectations and triggering volatility in all USD pairs. Key levels to watch are resistance at 143.200 and support at 140.000
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On Tuesday, the Japanese yen (JPY) lost more than 1% against the U.S. dollar (USD) as investors received signals of easing trade tensions between the U.S. and China.
👉Possible effects for traders
'Even if Japan and the U.S. were to discuss currency rates, there's really not much the two sides can do. It doesn't make sense to conduct currency intervention. Rate hikes are also out of the question,' said Hiroyuki Machida, director of Japan FX and commodities sales at ANZ. Meanwhile, new data from Japan revealed that private sector activity rebounded in April following a decline in March. The Japan Services Purchasing Managers' Index (PMI) rose from 50 in March towards 52.2 in April. Overall, the services sector's performance in April signalled a cautious return to economic growth.
USDJPY rose slightly during the Asian and early European trading sessions. Today, apart from tariff-related news, traders should focus on the U.S. S&P Manufacturing and Services PMI report at 1:45 p.m. UTC. It may shed light on the state of the U.S. labour market, potentially altering investors' rate-cut expectations and triggering volatility in all USD pairs. Key levels to watch are resistance at 143.200 and support at 140.000
📲 More trading opportunities in our app
If the link doesn’t work, try a special one for your country:
🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH
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📊 EURUSD has pulled back
The U.S. dollar (USD) strengthened against other major currencies on Wednesday. Investors were relieved after U.S. President Donald Trump backed away from threats of firing Federal Reserve (Fed) Chair Jerome Powell. 'I have no intention of firing him,' Trump told reporters in the Oval Office on Tuesday. 'I would like to see him be a little more active in terms of his idea to lower interest rates,' he added.
👉Possible effects for traders
'While it's still early days, the mood in the market is evidently shifting, and what was a strong 'sell America' vibe flowing through markets yesterday has in part reversed,' said Chris Weston, head of research at broker Pepperstone. 'Markets are becoming ever more conditioned to the President shooting from the hip and then reversing the stance like it was never a big issue,' Weston commented.
Meanwhile, European Central Bank (ECB) President Christine Lagarde said on Tuesday that she sees no signs of recession in the eurozone. She commented that the disinflation process in the eurozone 'is on track, and we are close to completion'. Thus, there is little chance for an interest rate cut in May, especially after the ECB cut interest rates by another 25 basis points last week—the third cut in 2025 and the seventh since the regulator began easing monetary policy last summer.
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The U.S. dollar (USD) strengthened against other major currencies on Wednesday. Investors were relieved after U.S. President Donald Trump backed away from threats of firing Federal Reserve (Fed) Chair Jerome Powell. 'I have no intention of firing him,' Trump told reporters in the Oval Office on Tuesday. 'I would like to see him be a little more active in terms of his idea to lower interest rates,' he added.
👉Possible effects for traders
'While it's still early days, the mood in the market is evidently shifting, and what was a strong 'sell America' vibe flowing through markets yesterday has in part reversed,' said Chris Weston, head of research at broker Pepperstone. 'Markets are becoming ever more conditioned to the President shooting from the hip and then reversing the stance like it was never a big issue,' Weston commented.
Meanwhile, European Central Bank (ECB) President Christine Lagarde said on Tuesday that she sees no signs of recession in the eurozone. She commented that the disinflation process in the eurozone 'is on track, and we are close to completion'. Thus, there is little chance for an interest rate cut in May, especially after the ECB cut interest rates by another 25 basis points last week—the third cut in 2025 and the seventh since the regulator began easing monetary policy last summer.
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📊 Long-awaited correction seems to have come to gold market
The gold (XAU) price pulled back by 1% on Wednesday after reaching a new all-time high of $3,500. The decline followed U.S. President Donald Trump's softened tone on key economic issues, which reduced the metal's safe-haven appeal.
👉Possible effects for traders
Trump softened his earlier threats to dismiss Federal Reserve (Fed) Chair Jerome Powell and expressed renewed optimism about a potential trade deal with China. On Tuesday, he signalled a possible easing of trade tensions, stating that U.S. tariffs of 145% on Chinese imports could be reduced substantially once a deal is reached.
'The sell-off pushed gold into an extremely oversold condition in the short term,' said Kelvin Wong, Senior Market Analyst for Asia Pacific at OANDA. Despite the pullback, Wong noted that there is 'no sign of bullish exhaustion yet', suggesting room for further upward movement as prices remain above key support levels.
Earlier today, XAUUSD fell during the Asian and early European trading sessions. Today, investors await U.S. Purchasing Managers' Index data due at 1:45 p.m. UTC to get fresh clues on the economic situation. Spot gold may retest support at $3,286. A break below could open the way towards $3,000.
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The gold (XAU) price pulled back by 1% on Wednesday after reaching a new all-time high of $3,500. The decline followed U.S. President Donald Trump's softened tone on key economic issues, which reduced the metal's safe-haven appeal.
👉Possible effects for traders
Trump softened his earlier threats to dismiss Federal Reserve (Fed) Chair Jerome Powell and expressed renewed optimism about a potential trade deal with China. On Tuesday, he signalled a possible easing of trade tensions, stating that U.S. tariffs of 145% on Chinese imports could be reduced substantially once a deal is reached.
'The sell-off pushed gold into an extremely oversold condition in the short term,' said Kelvin Wong, Senior Market Analyst for Asia Pacific at OANDA. Despite the pullback, Wong noted that there is 'no sign of bullish exhaustion yet', suggesting room for further upward movement as prices remain above key support levels.
Earlier today, XAUUSD fell during the Asian and early European trading sessions. Today, investors await U.S. Purchasing Managers' Index data due at 1:45 p.m. UTC to get fresh clues on the economic situation. Spot gold may retest support at $3,286. A break below could open the way towards $3,000.
📲 More trading opportunities in our app
If the link doesn’t work, try a special one for your country:
🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH
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Trade online and manage all your assets with the OctaBroker.
‼️ Join Octa Analytics VIP
Unlock premium signals, exclusive offers, and important events to boost your trading success.
To become a member of Octa Analytics VIP, follow these easy steps:
1️⃣ Make sure you have $50 or more in your account.
2️⃣ Take a screenshot of your balance and send it along with your Octa real account ID to our @octa_vip_bot chatbot.
3️⃣ Await verification—usually, it’s completed within one business day.
Ready to take your trading to the next level? Let us steer you toward success. The sooner you join, the more you’ll benefit from our elite trading community!
💯 Limited-time offer 💯 Don’t miss the opportunity to use the BONUSVIP100 promo code for a 100% deposit bonus!
Unlock premium signals, exclusive offers, and important events to boost your trading success.
To become a member of Octa Analytics VIP, follow these easy steps:
1️⃣ Make sure you have $50 or more in your account.
2️⃣ Take a screenshot of your balance and send it along with your Octa real account ID to our @octa_vip_bot chatbot.
3️⃣ Await verification—usually, it’s completed within one business day.
Ready to take your trading to the next level? Let us steer you toward success. The sooner you join, the more you’ll benefit from our elite trading community!
💯 Limited-time offer 💯 Don’t miss the opportunity to use the BONUSVIP100 promo code for a 100% deposit bonus!
#economic_calendar
These events may affect the market on 24 April.
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These events may affect the market on 24 April.
🔥 Don't forget to get a 100% deposit bonus!
📊 Bitcoin paused its rally ahead of U.S. economic data
Bitcoin (BTC) rose by 0.27% against the U.S. dollar (USD) on Wednesday and moved near $94,000 on the expectation of decisions regarding the U.S. trade policy. Bitcoin has shown good resilience to market volatility and financial market uncertainty caused by trade tariffs war. Surprisingly, its 10-day volatility is lower than that of the major stock market indices. It may indicate that Bitcoin is more resilient against the U.S. dollar.
👉Possible effects for traders
'Even though Bitcoin is still correlated with stocks, the most significant part is now performing as a low beta by not amplifying equity risks,' commented David Lawant, head of research at FalconX. 'BTC isn't moving independently, but it's not amplifying equity risk like it used to. That's the real and important signal,' he added.
BTCUSD declined slightly during the Asian and early European trading sessions. The price is moving below $93,000 but still above the 100-hour simple moving average zone—a strong support level. Today, traders should focus on the U.S. Jobless Claims at 12:30 p.m. UTC. It may shed more light on the future U.S. interest rate path. Key levels to watch are support at $91,900 and resistance at $94,700.
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Bitcoin (BTC) rose by 0.27% against the U.S. dollar (USD) on Wednesday and moved near $94,000 on the expectation of decisions regarding the U.S. trade policy. Bitcoin has shown good resilience to market volatility and financial market uncertainty caused by trade tariffs war. Surprisingly, its 10-day volatility is lower than that of the major stock market indices. It may indicate that Bitcoin is more resilient against the U.S. dollar.
👉Possible effects for traders
'Even though Bitcoin is still correlated with stocks, the most significant part is now performing as a low beta by not amplifying equity risks,' commented David Lawant, head of research at FalconX. 'BTC isn't moving independently, but it's not amplifying equity risk like it used to. That's the real and important signal,' he added.
BTCUSD declined slightly during the Asian and early European trading sessions. The price is moving below $93,000 but still above the 100-hour simple moving average zone—a strong support level. Today, traders should focus on the U.S. Jobless Claims at 12:30 p.m. UTC. It may shed more light on the future U.S. interest rate path. Key levels to watch are support at $91,900 and resistance at $94,700.
📲 More trading opportunities in our app
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🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH
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📊 EURUSD ticked slightly higher
The U.S. dollar (USD) has recovered from a three-and-a-half-year low of 1.15720 against the euro (EUR). Earlier this morning, the euro continued to move slightly lower and remained at around 1.13380.
👉Possible effects for traders
Christine Lagarde, President of the European Central Bank (ECB), said that the U.S. tariffs could have a disinflationary impact on Europe if there are no European countermeasures. However, tariffs would encourage China to redirect exports to the region. She added that the disinflationary effect would be partly offset by an expected increase in Germany's fiscal spending after the country's parliament passed a plan to significantly boost defence and infrastructure spending last month. Lagarde said she couldn't exclude the possibility of the ECB revising up its growth forecasts when it presents its next outlook in June in light of Trump's tariffs.
'It is clear, by now, that no other currency is as sensitive to trade headlines as the U.S. dollar,' wrote ING currency strategist Francesco Pesole in a note to clients. 'We still think the balance of risks remains skewed to the downside for USD in the near term, but we don't expect a repetition of the one-way traffic in dollar selling we have witnessed of late,' he said. 'That said, EURUSD remains almost entirely a function of USD moves. And another leg higher above 1.15000 remains possible should fears about the Fed's independence take centre stage again,' Pesole concluded.
EURUSD remained relatively flat during the Asian and early European trading sessions. Today, the U.S. Jobless Claims at 12:30 p.m. UTC will shed light on the state of the U.S. labour market. The data may alter Federal Reserve monetary policy expectations. Moreover, traders should monitor any tariff-related news and developments around trade negotiations. Key levels to watch for EURUSD are support at 1.13000 and resistance at 1.14000
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The U.S. dollar (USD) has recovered from a three-and-a-half-year low of 1.15720 against the euro (EUR). Earlier this morning, the euro continued to move slightly lower and remained at around 1.13380.
👉Possible effects for traders
Christine Lagarde, President of the European Central Bank (ECB), said that the U.S. tariffs could have a disinflationary impact on Europe if there are no European countermeasures. However, tariffs would encourage China to redirect exports to the region. She added that the disinflationary effect would be partly offset by an expected increase in Germany's fiscal spending after the country's parliament passed a plan to significantly boost defence and infrastructure spending last month. Lagarde said she couldn't exclude the possibility of the ECB revising up its growth forecasts when it presents its next outlook in June in light of Trump's tariffs.
'It is clear, by now, that no other currency is as sensitive to trade headlines as the U.S. dollar,' wrote ING currency strategist Francesco Pesole in a note to clients. 'We still think the balance of risks remains skewed to the downside for USD in the near term, but we don't expect a repetition of the one-way traffic in dollar selling we have witnessed of late,' he said. 'That said, EURUSD remains almost entirely a function of USD moves. And another leg higher above 1.15000 remains possible should fears about the Fed's independence take centre stage again,' Pesole concluded.
EURUSD remained relatively flat during the Asian and early European trading sessions. Today, the U.S. Jobless Claims at 12:30 p.m. UTC will shed light on the state of the U.S. labour market. The data may alter Federal Reserve monetary policy expectations. Moreover, traders should monitor any tariff-related news and developments around trade negotiations. Key levels to watch for EURUSD are support at 1.13000 and resistance at 1.14000
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📊 Gold prices start to rise after losing almost 3%
The gold (XAU) price decreased by 2.74% on Wednesday after reaching a new all-time high of $3,261. The decline was due to U.S. President Donald Trump softening his stance on trade tariffs with key trading partners, reducing the metal's safe-haven appeal.
👉Possible effects for traders
U.S. Finance Minister Scott Bessent said on Wednesday that a reciprocal tariff reduction between China and the U.S. must be agreed upon to start trade talks. If the trade agreement is reached, it may keep U.S. economic growth on track to exceed the International Monetary Fund's estimate of 1.8%.
'The kind of volatility we're seeing this week is being driven by technicals and headline risk. But the fundamentals are strong, so dip buying is effectively a function of investors moving in on the basis of the bigger picture,' said Kyle Rodda, financial market analyst at Capital.com. 'We sustain an uptrend until the Trump administration really backs away from its trade policy,' he added.
Gold rose above $3,300 during the Asian trading session after yesterday's significant drop. Today, traders should focus on the U.S. Existing Home Sales report, due at 2:00 p.m. UTC. The data could increase volatility in the market, especially in USD pairs. If the figures exceed market expectations, the U.S. dollar will strengthen, weighing down on gold prices. Conversely, weaker-than-expected data may support gold by increasing demand for safe-haven assets.
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The gold (XAU) price decreased by 2.74% on Wednesday after reaching a new all-time high of $3,261. The decline was due to U.S. President Donald Trump softening his stance on trade tariffs with key trading partners, reducing the metal's safe-haven appeal.
👉Possible effects for traders
U.S. Finance Minister Scott Bessent said on Wednesday that a reciprocal tariff reduction between China and the U.S. must be agreed upon to start trade talks. If the trade agreement is reached, it may keep U.S. economic growth on track to exceed the International Monetary Fund's estimate of 1.8%.
'The kind of volatility we're seeing this week is being driven by technicals and headline risk. But the fundamentals are strong, so dip buying is effectively a function of investors moving in on the basis of the bigger picture,' said Kyle Rodda, financial market analyst at Capital.com. 'We sustain an uptrend until the Trump administration really backs away from its trade policy,' he added.
Gold rose above $3,300 during the Asian trading session after yesterday's significant drop. Today, traders should focus on the U.S. Existing Home Sales report, due at 2:00 p.m. UTC. The data could increase volatility in the market, especially in USD pairs. If the figures exceed market expectations, the U.S. dollar will strengthen, weighing down on gold prices. Conversely, weaker-than-expected data may support gold by increasing demand for safe-haven assets.
📲 More trading opportunities in our app
If the link doesn’t work, try a special one for your country:
🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH
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