Fed

GBPUSD, USDJPY Outlook: With the US Dollar weakening near the 98-price zone, GBPUSD and USDJPY are trading close to their 2024 highs and lows, respectively. Both pairs are holding ground amid growing indecision—poised for either steep breakouts or sharp reversals. What are the key levels to watch?

Traders and economists are projecting headline CPI to come in at 2.8% y/y, with the core (ex-food and -energy) reading expected at 3.1% y/y - see what that might mean for the US Dollar!

Although the bullish bias in XAU/USD movements has remained strong, the price closed the week pulling back toward the $3,000 per troy ounce support zone, posting a short-term decline of just over 1%.

One day after the Federal Reserve’s decision, USD/JPY remains neutral, with a daily variation of less than 0.5% in the last few trading hours.

GBPUSD, Dow Forecast: The BOE holds rates, keeping GBP/USD below 1.30 as markets await the BOE press conference. Meanwhile, the Dow Jones maintains its rebound near 41,800, supported by the Fed's dovish stance.

With US yields lower and hinting at a swing high, the relationship between AUD/USD and the AU-US 2-year spread appear to be back on talking terms. And that could bode well for AUD/USD bulls if US yields continue to fall in line with my bias.

Oil prices retreated to $66 amid growing concerns over global economic growth, rising inventory levels, and oversupply risks, further pressured by OPEC’s April supply plans. With the (FOMC) meeting on the horizon, market participants are closely watching for signals on the Fed’s policy stance and its implications for oil demand.

With the US Federal Reserve to make its own policy announcement later, the USD/JPY outlook could take a new direction in the near-term, as the pair continues to test a major resistance zone near the 150.00 area.

USDJPY, DXY Forecast: The Bank of Japan (BOJ) held interest rates at 0.5% as expected, amid tariff uncertainties, while the U.S. Dollar Index (DXY) remains near its 2025 lows ahead of the FOMC outlook, keeping markets on edge.

Despite having registered two consecutive recovery sessions, the index is now showing new declines, accumulating a loss of more than 5% over the last ten trading sessions.

With both the Bank of Japan and US Federal Reserve to make policy announcements, the USD/JPY forecast could take a new direction in the near-term outlook, as the pair tests a major resistance zone near the 150.00 hurdle.