USDJPY, GBPUSD, AUDUSD

US Core PCE index takes center stage; USDJPY eyes upside recovery; UK CPI on Wednesday expected to stay within target range; GBPUSD gains; Australia's CPI projected to hold steady; AUDUSD edges upward

US PCE inflation and personal consumption → USDJPY

This week, the spotlight will be on the US core PCE inflation index and personal consumption data. According to the Cleveland Fed's Nowcast model, the headline PCE price index likely remained steady at 2.5% y/y in February, while the core PCE price index may have slightly increased to 2.7% from 2.6% y/y. Additionally, personal consumption in January recorded a 0.2% m/m decline, but analysts anticipate a recovery of 0.5% m/m in February.

USDJPY is experiencing an upward wave following a pullback from its five-month low of 146.50, testing the short-term descending trend line near the psychologically significant 150.00 level. A break above the immediate resistance at 150.10 could push the pair toward the 151.15 barrier and the bearish crossover of the 50- and 200-day simple moving averages (SMAs) at 151.60. Conversely, a downside move could bring the price down to the 148.15 and 147.15 levels.

Additionally, the yen's movement this week could be influenced by Friday’s release of the Bank of Japan’s March meeting Summary of Opinions.

UK CPI Data → GBPUSD

The UK CPI report, due on Wednesday, is expected to show a slight decrease in inflation from 3.0% to 2.9% y/y in February, keeping it within the Bank of England’s target range of 1.0%-3.0%. Investors are likely to analyze the data closely to determine if core and services CPI continue their rapid growth trajectory.

GBPUSD is trending higher, finding strong support around the mid-level of the Bollinger band and the 1.2885 support area. Further upward momentum could take the pair to the four-month high of 1.3015, followed by the 1.3045 and 1.3100 resistance levels, which align with the upper Bollinger band. On the downside, a break lower could bring the pair to the 1.2815–1.2840 region, with the 200-day SMA at 1.2800 acting as a key support level.

Australian CPI Data → AUDUSD

Australia’s inflation figure is forecast to remain unchanged at 2.5% y/y in February for the third consecutive month. Meanwhile, escalating trade tensions are raising concerns about potential disruptions in China, Australia's largest export market, posing risks to the domestic economy. A stronger-than-expected CPI outcome might boost the Australian dollar, as it could prompt investors to reassess the likelihood of rate cuts by the Reserve Bank of Australia (RBA).

AUDUSD is trending upward, nearing the short-term SMAs around the 0.6300 psychological mark and maintaining its upward momentum since mid-January. Increased bullish pressure could pave the way for a retest of the 0.6390 resistance level and the two-and-a-half-month high of 0.6407. It’s worth noting that only a breakout above the 200-day SMA at 0.6510 would signal a shift to a broader bullish outlook. On the other hand, a drop below the near-term uptrend line could shift the bias to neutral, targeting 0.6180 and 0.6130.

規則: CySEC (Cyprus), FSC (Belize), DFSA (UAE), FSCA (South Africa)
read more
ATFX Market Outlook 16th May 2025

ATFX Market Outlook 16th May 2025

U.S. retail sales increased at a much weaker rate in April as the pre-tariff scramble to purchase automobiles exhausted itself and shoppers trimmed other spending in the face of growing economic uncertainty. In addition, Federal Reserve Chairman Jerome Powell stated the Fed needs to reconsider its existing employment and inflation paradigm within monetary policy.
ATFX | 1天前
US 100, EURUSD, GBPUSD

US 100, EURUSD, GBPUSD

US-China trade talks send Wall Street sharply higher; US CPI on calendar; EURUSD tumbles ahead of Eurozone GDP; US-UK trade deal and UK GDP in focus; GBPUSD below 1.3200
XM Group | 5天前
Moneta Markets Daily Market Update: May 12, 2025

Moneta Markets Daily Market Update: May 12, 2025

Global financial markets on May 12, 2025, are buoyed by optimism surrounding a US-China trade deal, though uncertainties over tariff reductions temper gains. Gold drops to a one-week low near $3,253, while EUR/USD holds above 1.1200, awaiting trade deal details.
Moneta Markets | 5天前