US Wrap

US equity markets were mixed on Wednesday as inflation numbers came out in line with expectations.

Meanwhile, the USD continued to weaken and has given most of the majors a bit of a leg up. While the precious metals such as GOLD also benefited from the softer dollar.

For the time being, bond yields have slowed down, which will be music to the ears of a number of central banks.

The Data Agenda

The main data of note today will be the ECB as they decide what to do about those rising bond yields.

Let’s not forget, central banks simply manipulate markets and interest rates. The current level of interest rates are likely not a true reflection of where the economy sits.

The likes of the ECB would not want to see rising interest rates, because they have now printed so much money and governments have wracked up so much debt that they have almost become reliant on interest rates at these levels.

Nevertheless, we will wait and see what Christine Lagarde has to say for herself.

Forex Signal Update

The FX Leaders Team hit 1 winner from 2 trades, with plenty of focus on the majors this week.

We have three open signals so look to the forex signals page for all the latest developments.

AUD/USD – Active Signal

The AUD/USD is bouncing at the moment, but as we’ve seen things can turn quickly. We are short for the time being.

USD – Watching

The Greenback is really dictating play at the moment and taking its lead from bonds. 

Cryptocurrency Update

BTC is knocking on the door of all-time highs around the $58,000 level but as yet hasn’t pushed through.

Overall the market has been soft, but Bitcoin is holding up. Can it once again test the highs or will this be a huge double top?