USD Feeling Bullish Today on Worries That Inflation Will Remain High

While traders still expect one rate hike in May, the previous prediction of three rate cuts by the end of the year has been reduced to two, and the implied interest rate for November and December has increased by over 10 basis points this week. EUR/USD slipped lower during the European session below 1.0920. Although we saw a retrace higher in the US session which has stopped, so we decided to open a sell EUR/USD signal.

Gold also slipped lower, falling below $1,970 and we booked profit on ou Gols signal which we opened last night on the short side. Although we have seen a boune here too in the last few hours, so we are looking to sell Gold as well around $2,000 since the highs are geting lower.