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EUR/USD clings to marginal gains above 1.0750
EUR/USD trades in positive territory above 1.0750 in the second half of the day on Monday. The US Dollar struggles to find demand as investors reassess the Fed's rate outlook following Friday's disappointing labor market data.
GBP/USD edges higher toward 1.2600 on improving risk mood
Following Friday's volatile action, GBP/USD pushes higher toward 1.2600 on Monday. Soft April jobs report from the US and the modest improvement seen in risk mood make it difficult for the US Dollar to gather strength.
Gold climbs above $2,320 as US yields push lower
Gold trades decisively higher on the day above $2,320 in the American session. Retreating US Treasury bond yields after weaker-than-expected US employment data and escalating geopolitical tensions help XAU/USD stretch higher.
Addressing the crypto investor dilemma: To invest or not? Premium
Bitcoin price trades around $63,000 with no directional bias. The consolidation has pushed crypto investors into a state of uncertainty. Investors can expect a bullish directional bias above $70,000 and a bearish one below $50,000.
Three fundamentals for the week: Two central bank decisions and one sensitive US Premium
The Reserve Bank of Australia is set to strike a more hawkish tone, reversing its dovish shift. Policymakers at the Bank of England may open the door to a rate cut in June.
DEEPER DIVE
US versus the Eurozone: Inflation divergence causes monetary desynchronization
Historically there is a very close correlation between changes in US Treasury yields and German Bund yields. This is relevant at the current juncture.
Building the future
There is a construction boom underway that is quietly transforming the production capabilities and other aspects of the US economy. The fastest-growing category within nonresidential construction in recent years has been manufacturing.
Addressing the public debt challenge in the EU
Recently an agreement has been reached between representatives of the European Council, the European Parliament, and the European Commission on a new economic governance framework.
FXS Signals
Technical Confluences Detector
Gold rises as markets eye lower interest rates, central-bank demand
The Gold price is trading up by almost a percent, in the $2,320s on Monday, as markets weigh the implications of weaker-than-expected US jobs data on interest rates – a key driver of Gold price – and economic data from China, a major market for Gold, stays in expansive territory.
Technical Analysis: Gold price starts oscillating in a range
XAU/USD has started trading sideways on the 4-hour chart, which is used to analyze the short-term trend. The pair has just retested the ceiling of a mini-range at around $2,326, and has pulled back during the last period.
CRYPTOCURRENCIES
Bitcoin Cash could become a Cardano partnerchain as 66% of 11.3K voters say “Aye”
Cardano founder Charles Hoskinson proposed integration of Bitcoin Cash into a Cardano Partnerchain. 65% of 11,340 voters voted in favor of, to the contrary “No”, meaning “Ayes” have it, but this is pending confirmation.
Render Price Prediction: RNDR could hit $10 after successful breakout with ecosystem’s LD token launchpad
Render (RNDR) price is trading with a bullish bias, boasting higher highs, with the AI crypto coin not only outperforming its sector peers, but also doing better than most altcoins in the broader cryptocurrency space.
Tesla updates payment methods to include DOGE, Dogecoin price rises 6%
Tesla Inc., Elon Musk’s American multinational automotive and clean energy company headquartered in Austin, Texas, is the latest catalyst for Dogecoin (DOGE) price rally.
Sui daily transactions reach 41 million, overtakes Solana with SUI price primed for recovery
Sui (SUI) price has dipped 3 % in the past 24 hours and remains down 15% in the last week. However, other metrics suggest something could be at play in the Sui ecosystem as daily transactions skyrocket.
THE STOCK OF THE DAY
Apple earnings help market end week on high note Premium
Apple (AAPL) stock gained nearly 6% on Friday following an earnings update that impressed most analysts. Percentage-wise, Apple stock gained the most in a single session since November 10, 2022.
ECONOMIC CALENDAR
WEEKLY FORECAST
EUR/USD: Optimism prevailed, hurting US Dollar demand Premium
The EUR/USD pair advanced for a third consecutive week, accumulating a measly 160 pips in that period. The pair trades around 1.0760 ahead of the close after tumultuous headlines failed to trigger a clear directional path.
GBP/USD: Recovering ahead of BoE, UK GDP data Premium
The British Pound (GBP) extended its march north against the US Dollar (USD) throughout the week, motivating GBP/USD to break above the 1.2600 figure for the first time since mid-April.
US Dollar: Less-hawkish Fed, Nonfarm Payrolls miss weigh on the Greenback Premium
A marked pullback during the week prompted the US Dollar (USD) to retreat to the area of three-week lows in the mid-104.00s when tracked by the USD Index (DXY) soon after the US NFP came in below expectations in April.
Gold: XAU/USD bears take action on mixed signals from US economy Premium
Gold (XAU/USD) price fell more than 2% for the second consecutive week, erased a small portion of its losses but finally came under renewed bearish pressure. The near-term technical outlook points to a loss of bullish momentum as the market focus shifts to Fedspeak.
Bitcoin: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.
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