XAU/USD: Strong Buy - Focused Currency and Technical Analysis (15-minute chart) April 26, 2024
EUR/USD: Sell - Slight Increase, Focused on Western Economic Indicators The EUR/USD pair is trading at 1.0728, having retreated from the high of April 11th updated yesterday. Investors are avoiding establishing new positions ahead of the release of the Personal Consumption Expenditures Price Index (PCE), closely watched by the Federal Reserve. In the Eurozone, data on private loans and a speech by the ECB Vice President are scheduled. Yesterday's German consumer confidence index exceeded expectations, supporting the euro, but the sharp slowdown in U.S. GDP for the first quarter is putting pressure on the dollar.
GBP/USD: Sell - Lack of Direction, Focused on U.S. Economic Data The GBP/USD pair is testing 1.2500, with profit-taking movements seen after recent vigorous rises. Yesterday's U.S. GDP data fell short of expectations, increasing pressure on the dollar. Today, the U.S. PCE Price Index is being released, and the UK saw a slight improvement in the Gfk Group's consumer confidence index.
AUD/USD: Sell - Modest Rise, Awaiting U.S. Personal Consumption Data The AUD/USD pair is testing 0.6530, maintaining its recent upward trend. Australia's import price index fell below expectations, but the weakness in U.S. GDP data is providing support against the dollar. Today, U.S. personal consumption data and the PCE Price Index are in focus.
USD/JPY: Buy - Updating New Highs, Focused on Japanese Inflation Data The USD/JPY pair is testing 156.15, with limited support for the yen as Japan's Consumer Price Index fell below expectations. The market's cautious stance continues as it watches for potential intervention by the Bank of Japan.
XAU/USD: Strong Buy - Rising, Awaiting New Catalysts The Gold/USD pair is testing 2336.00, with the upcoming release of the American PCE Price Index. This economic indicator could significantly impact the Federal Reserve's policy direction. Additionally, the slowdown in U.S. GDP is supporting gold prices.
