US DOLLAR FUNDAMENTAL FORECAST: BULLISH Dollar drops as risk appetite begrudgingly firms on upbeat US GDP data FOMC likely to sound cautious, extolling patience and spooking markets April jobs report might disappoint, amplifying global slowdown worries Check out the latest US Dollar forecast and see what is expected to drive prices through mid-year! Financial markets
According to analysts at ING, a recent run of firm macro data and a robust corporate earnings season have eased fears of heightening Federal Reserve interest rate cuts and a potential US recession. Key Quotes “Consumer spending is looking healthy, and there is the growing prospect of a US-China trade deal that can help lift
CRUDE OIL & GOLD TALKING POINTS: Crude oil prices drop as China pivots away from Iranian to Saudi imports Deeper losses likely if 1Q US GDP data disappoints, stoking risk aversion Gold prices stalling but technical positioning carries bearish implications Crude oil price fell yesterday, posting the largest daily drop in two weeks. This may
TRY depreciates further to the 5.96 region vs. USD. Spot leaps to yearly highs on steady CBRT. CBRT removed pledge for further tightening if needed. The selling pressure around the Turkish Lira is gathering further traction today and pushes USD/TRY to fresh 2019 highs just beyond the 5.9600 handle. USD/TRY stronger after CBRT TRY losses
USD/JPY has barely moved in response to BOJ’s decision to keep key policy tools unchanged.  The downward revision of the growth and inflation forecasts could push the JPY lower during the day ahead.  The Bank of Japan kept key policy tools unchanged, as expected, a few minutes before press time, leaving the USD/JPY largely unaffected