U.S. inflation falls below estimates, sparking a dollar sell-off as markets price in a faster Fed dovish shift. EUR/USD and GBP/USD gain while Treasury yields dip. Dollar weakness and easing inflation reshape major forex pairs ahead. #Forex #USD #Inflation
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EUR/USD remains under downward pressure as of April 8, 2024, driven by stronger US economic data and expectations of a more hawkish Federal Reserve compared to the ECB. Technicals show the pair trading below key moving averages with critical support near 1.0800 at risk. Market watchers are eyeing upcoming data for signs of a trend reversal or further decline.
USD/JPY rebounds from 153.59 support, pushing past 156.00 resistance amid bullish momentum confirmed by MACD and RSI. Key levels to watch: near-term resistance at 156.78, medium-term target at 160.20. Trend remains strong above 55- and 200-day EMAs, signaling potential continuation toward multi-decade highs.
USD/CAD has pulled back slightly but remains in a bullish trend supported by strong U.S. economic data, higher bond yields, and Fed hawkishness. Meanwhile, the loonie faces headwinds from softer oil prices and a cautious Bank of Canada. Technicals show solid support near 1.3600, suggesting upward momentum intact.
Gold stands out as a strategic buy amid signs of easing US rate hikes, steady inflation concerns, and ongoing geopolitical tensions. Building on insights from Matías Salord and recent data, the macro backdrop favors gold’s safe-haven appeal, supported by strong central bank demand and a weakening dollar. Now may be the right time to consider increasing gold exposure before potential upside gains materialize.
GBP/USD remains range-bound near 1.2700 amid mixed UK data and strong US dollar support. Technicals show neutral momentum with resistance at 1.2760 and support near 1.2650. Market sentiment is cautious as traders await clearer policy signals from BoE and Fed.
Pound surges against the U.S. Dollar after U.S. inflation data comes in below expectations. Softer inflation increases bets on earlier Federal Reserve rate cuts, boosting GBP/USD toward its highest since March. Market focus now shifts to upcoming economic reports for further Fed clues.
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