EUR/USD’s short-term outlook has deteriorated steadily since the pair was rejected from the yearly highs near 1.2100 the figure. The break below the key 200-day Simple Moving Average (SMA) reinforces the downside bias and points to the risk of a deeper pullback ahead.
Spot Gold fell to fresh one-month lows on Wednesday, in anticipation of the Federal Reserve (Fed) monetary policy announcement and following headlines indicating inflation in the United States (US) picked up even before the Iran war started.
The outlook for the Australian Dollar (AUD) remains constructive for the time being, reinforced by persistently elevated inflation in Oz and the hawkish tilt from the RBA. This combination is expected to pave the way for extra gains in AUD/USD as well as put a floor to occasional sell-offs.
The EUR/USD pair trades uneventfully, a handful of pips above the 1.1500 threshold, as investors await the Federal Reserve (Fed)’s monetary policy decision later in the day.
Crypto traders breathed a sigh of relief over the past week, as the sight of rising prices eased concerns about a devastating, long-drawn-out crypto winter, though the threat of further downside remains.
The USD/SGD is around the 1.27675 as of this writing, this as financial institutions are starting to show increasingly more tranquil trading tendencies the past day and a half.