Author: Omada Admin
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EUR/USD Mid-Day Outlook
Daily Pivots: (S1) 1.1239; (P) 1.1263; (R1) 1.1307; More… Intraday bias in EUR/USD remains on the upside at this point. Correction from 1.1572 could have completed at 1.1064 already. Further rise should be seen to retest 1.1572 high first. Firm break there will resume larger up trend. Next near term target will be 61.8% projection…
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US Assets Remain Under Pressure; Sterling Gains Muted Despite Hot CPI
Dollar’s selloff moderated slightly during European session, but pressure on US assets remains firmly in place. DOW futures are down more than -300 points, while the 10-year Treasury yield has surged back above the 4.5% mark. Market sentiment continues to reflect unease over the US fiscal outlook and uncertainty surrounding the Trump administration’s trade stance.…
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Gold, Oil Spike on Renewed Israel-Iran Tension
The European Open European stocks pulled back from two-month highs on Wednesday, with JD Sports and Julius Baer shares leading the decline. Meanwhile, investors stayed cautious, watching U.S. trade talks and the tax bill debate. The pan-European STOXX 600 index dropped 0.4%, with retail and auto stocks leading the decline Swiss bank Julius Baer saw…
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Gold: Bulls Regained Traction and Establish Above $3,300
Gold keeps firm tone and attempts to establish above $3300 level, after the price hit the highest in over one week on Wednesday morning, in extension of Thursday’s 1.8% rally. Fresh safe haven demand was fueled by further weakening of US dollar, which was also hurt by the US credit rating downgrade, while traders also…
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Gold Prices Climb Amid Geopolitical Tensions
The price of gold rose to $3,303 per troy ounce on Wednesday, nearing a two-week high. The precious metal gained for the third consecutive day, following a 2% surge the previous day as investors sought safety amid heightened geopolitical uncertainty. Key drivers behind the rally Middle East Tensions: fears of escalation increased over a potential…
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Oil Prices Surge Amid Threat of Strike on Iran
As shown on today’s XBR/USD chart, Brent crude oil prices have jumped (as indicated by the arrow) to a one-week high. This surge follows U.S. intelligence reports suggesting that Israel may be preparing to strike Iran’s nuclear facilities. Although CNN, citing officials, noted that it remains unclear whether Israeli leaders have made a final decision,…
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Pound Steady as UK Inflation Surges
Pound hits highest level since Feb. 2022 The British pound posted gains earlier but has failed to consolidate. In the European session, GBP/USD is trading at 1.3395, up 0.03% on the day. The pound has gained 1.1% this week and earlier today rose as high as 1.3468, its highest level since Feb. 2022. UK inflation…
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EUR/JPY Daily Outlook
Daily Pivots: (S1) 162.56; (P) 162.92; (R1) 163.42; More… No change in EUR/JPY’s outlook as range trading continues. Intraday bias stays neutral at this point. Further rally is in favor as long as 161.57 support holds. Break of 165.19 will resume the rise from 154.77 to 166.67 resistance. However, firm break of 161.57 will indicate…
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GBP/JPY Daily Outlook
Daily Pivots: (S1) 192.89; (P) 193.56; (R1) 194.19; More… Intraday bias in GBP/JPY remains neutral at this point. More consolidations could be seen below 196.38. Further rise is in favor as long as 190.22 support holds. On the upside, firm break of 195.95 will suggest that whole choppy decline from 199.79 has completed, and target…
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Euro Area Consumer Sentiment Beats Forecasts
In focus today This morning, Danske Research hosts a webinar on the US-China outlook following last week’s trade deal. The UK CPI inflation data for April is set to be a significant release, particularly for the BoE, as it has historically led to notable market reactions. Consensus anticipates services inflation to increase to 4.8% y/y…