Author: Omada Admin
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Week Ahead – US NFP and Eurozone CPI Awaited as Tariff War Heats Up, RBA Meets
Trump’s reciprocal tariffs could spur more chaos. US jobs report might show DOGE impact on labour market. Eurozone inflation will be vital for ECB bets as April cut uncertain. RBA to likely hold rates; Canadian jobs, BoJ Tankan survey also on tap. Markets brace for reciprocal tariffs There’s a sense of both optimism and fear…
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Canada’s Economy Surged in January, But Near-Term Growth Poised to Cool
Canadian economic growth started 2025 on strong footing, growing by 0.4% month-on-month (m/m). This was a tick above Statistics Canada’s and consensus expectations for a 0.3% m/m gain. In February, Statistics Canada estimates that the Canadian economy held flat. January’s reading was broad-based, with output expanding in 13 of 20 industries. Growth in goods industries…
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U.S. Personal Income Continued to Rise Strongly, But Spending Disappointed in February
Both personal income and spending rose in February. Personal income advanced by robust 0.8% month-over-month (m/m), which was stronger than consensus expectations for a 0.4% m/m gain. Consumer spending increased by 0.4% on the month – an acceleration following a lackluster performance in January (revised to -0.3% m/m). Despite the rebound, February’s outturn was softer…
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GBP/USD Mid-Day Outlook
Daily Pivots: (S1) 1.2883; (P) 1.2937; (R1) 1.3004; More… GBP/USD is still bounded in range below 1.3013 and intraday bias remains neutral. Consolidation from 1.3013 could extend. In case of another fall, downside should be contained by 38.2% retracement of 1.2248 to 1.3013 at 1.2721 to bring rebound. On the upside, break of 1.3013 will…
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USD/JPY Mid-Day Outlook
Daily Pivots: (S1) 150.35; (P) 150.75; (R1) 151.45; More… Intraday bias in USD/JPY remains neutral and outlook is unchanged. Strong resistance is still expected from 150.92 to complete the corrective recovery from 146.52. On the downside break of 149.53 support will bring retest of 146.52 first. Sustained trading below 61.8% retracement of 139.57 to 158.86…
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USD/CHF Mid-Day Outlook
Daily Pivots: (S1) 0.8818; (P) 0.8834; (R1) 0.8855; More… Intraday bias in USD/CHF remains neutral for the moment. Consolidation from 0.8757 could extend. In case of stronger recovery, upside should be limited by 0.8911 support turned resistance. On the downside, break of 0.8757 will resume the fall from 0.9200 to 61.8% retracement of 0.8374 to…
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EUR/USD Mid-Day Outlook
Daily Pivots: (S1) 1.0750; (P) 1.0786; (R1) 1.0837; More… No change in EUR/USD’s outlook and intraday bias stays neutral. Strong support is expected from 38.2% retracement of 1.0358 to 1.0953 at 1.0726 to complete the correction from 1.0953. On the upside, break of 1.0857 will bring retest of 1.0953 first. Firm break there will resume…
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Markets Sluggish Despite Data Surprises, Caution Prevails Ahead of Tariff Unveil
The forex markets are ending the week in a sluggish and indecisive mood, despite a flurry of notable economic data releases. The highlight was the hotter-than-expected US core PCE inflation, which firmed expectations that Fed will hold rates steady in May, with market pricing now around 90% chance. However, expectations for a June rate cut…
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Tokyo Inflation Rises, Keeping BOJ on Track for Rate Hike
The Japanese yen has posted considerable gains on Friday. In the European session, USD/JPY is trading at 150.53, down 0.33% on the day. Tokyo core inflation accelerates to 2.4%, higher than expected Inflation in Japan’s capital accelerated in February. Tokyo Core CPI, one of the most important inflation indicators, rose to 2.4% y/y, up from…
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Gold Hits New Record High, on Track for Strong Weekly, Monthly and Quarterly Gains
Gold spiked to new record high ($3086) in early Friday trading, in extension of Thursday’s 1.2% advance. The yellow metal is on track for the fourth consecutive weekly gain and also for the third straight bullish monthly close (over 7% up in March), with the price increasing by 17% in the first three months of…