Wonderful Introduction:
Love sometimes does not require the promise of vows, but she must need meticulous care and greetings; sometimes she does not need the tragic spirit of Liang Zhu turning into a butterfly, but she must need the tacit understanding and companionship with each other; sometimes she does not need the follower of male and female followers, but she must need the support and understanding of each other.
Hello everyone, today XM Foreign Exchange will bring you "[XM Group]: Beware of more twists and turns in the future of the trade war! The Fed's expectation of a rate cut has changed again." Hope it will be helpful to you! The original content is as follows:
Early Friday, the market took a cautious stance and the US dollar (USD) found it difficult to maintain its flexibility to its main competitors. New home starts and construction permit data will appear in the U.S. Economic Calendar in April. In addition, the University of Michigan will release its preliminary consumer confidence index for May.
The U.S. Bureau of Labor Statistics reported that the producer price index rose 2.4% year-on-year in April, compared with a 2.7% increase in March, and the U.S. dollar index fell slightly during the U.S. trading session on Thursday. Other data from the U.S. showed retail sales rose 0.1% month-on-month in April, while the number of initial jobless claims for weekly was 229,000, the same as previous values and market expectations. The U.S. dollar index continued to be at a disadvantage after falling 0.2% on Thursday and fell to 100.50 in early trading on Friday. Meanwhile, U.S. stock index futures rose and fell.
Data from Japan show that GDP in the first quarter contracted at an annual rate of 0.7%. This figure is worse than the 0.2% contraction predicted by analysts. After closing in the negative zone for three consecutive days, the USD/JPY remains under bearish pressure and traded at a weekly low of just above 145.00.
Euro/USD remained relatively calm, and early Friday European session continued to fluctuate up and down in a narrow channel around 1.1200. The European Statistics Office will release trade balance data for March.
The pound/dollar rose more than 0.3% on Thursday, erasing Wednesday's lost ground.The pair seems to have entered a consolidation phase around 1.3300.
The Reserve Bank of New Zealand reported that inflation expectations in the second quarter were slightly raised to 2.29% from 2.06% in the previous quarter. The New York dollar/USD rose more than 0.5% on Friday, trading above 0.5900.
Stat Canada reported Thursday that Canadian manufacturing sales fell 1.4% month-on-month in March. The USD/Canada fell slightly on Thursday around 1.3950.
Gold is difficult to stay around $3,200 on Friday because of multiple problems and concerns between the market and traders.
Euro: The intraday bias of the euro/dollar remains neutral at present. On the plus side, breaking through the 1.1292 resistance level will indicate that the correction from 1.1572 has been completed after defending the 38.2% retracement level of 1.1039 from 1.0176 to 1.1572. The intraday deviation will rise again, and retest 1.1572. However, a continued breakthrough of 1.1039 will weaken this view and aim at the next 61.8% retracement level of 1.0709.
The above content is all about "[XM Group]: Beware of more twists and turns in the future of the trade war! The expectation of the Fed rate cut has changed again". It was carefully compiled and edited by the editor of XM Forex. I hope it will be helpful to your transactions! Thanks for the support!
Every successful person has a beginning. Only by having the courage to start can you find the way to success. Read the next article now!