The Japanese yen might have stolen the focus during the session but it’s time to forget about that for a while. The US PCE price data is coming up later and that will be an important release to watch. It is the Fed’s preferred measure of inflation after all. And following the reaction to the US Q1 advance GDP data yesterday, it is clear that market players are still playing close attention to inflation data at the moment.

For now, equities are keeping the optimism after the late rebound in Wall Street yesterday. Tech shares are of course leading the charge, after earnings beat from Alphabet and Microsoft. S&P 500 futures are up 0.7% while Nasdaq futures are up 1.0%. Dow futures are only up 0.2% currently. In Europe, major indices are also higher with the DAX up 0.7% and CAC 40 up 0.3% on the day.

Stocks have enjoyed a bit more of a steadier showing this week. However, it doesn’t take away from the rather poor performance overall in April. Sellers are not out of the picture yet and we’ll have to see if the data later offers them something to work with at the end of the week. The 100-day moving average (red line) for the S&P 500 is still not too far away for now:

This article was written by Justin Low at www.forexlive.com.

Headlines:

• US data comes into focus in the second half of the week
• The line in the sand is shifting
• Japan’s economy minister to attend BOJ policy meeting tomorrow
• ECB’s Schnabel says may be facing a bumpy last mile on disinflation
• Germany May GfK consumer sentiment -24.2 vs -26.0 expected
• France April business confidence 99 vs 100 prior
• UK April CBI retailing reported sales -44 vs 2 prior

Markets:

• AUD leads, JPY lags on the day
• European equities lower; S&P 500 futures down 0.6%
• US 10-year yields down 0.4 bps to 4.650%
• Gold up 0.6% to $2,329.53
• WTI crude up 0.1% to $82.22
• Bitcoin down 0.1% to $63,955

There wasn’t too much action in European trading today as the market moves were rather straightforward during the session.

The dollar is seen down slightly ahead of the US Q1 advance GDP data coming up later. The greenback is lagging across the board, as we get close to some key technical levels on the charts.

Of note, GBP/USD is up to a two-week high above 1.2500 but faces up against its 38.2 Fib retracement level at 1.2526. Meanwhile, AUD/USD is also running up against its 200-day moving average at 0.6526 on the day. Besides that, EUR/USD is up 0.2% to 1.0720 while USD/CAD is down 0.2% to 1.3670 currently.

As for USD/JPY, it continues to hold above the 155.00 mark and hovering around 155.50-70 mostly during the session.

In the equities space, Meta’s earnings disappointment is reverberating and spooking investors. It’s dragging down tech shares but also weighing on broader sentiment as well. European stocks are mostly down as such while S&P 500 futures are lower by 0.6%.

It’s now over to the slew of US data later and how traders will take to that, putting everything into the mix on the Fed outlook again.

This article was written by Justin Low at www.forexlive.com.

Yesterday,
the Dow Jones ended the day negative as the relief rally reached some key
resistance levels. The first part of the week has been pretty empty on the data
front, and we hadn’t any Fedspeak due to the blackout period. This has led to a
relief rally which was exacerbated by weaker US PMIs as the
market interpreted them as good news for inflation, although there were some
worrying commentary on the labour market side. Beginning today, we will have
many top tier economic data ahead as the new month comes with new reports.

Dow Jones Technical
Analysis – Daily Timeframe

On the daily chart, we can see that the Dow Jones
pulled back into the key resistance level at
38464 where we can also find the confluence of the
38.2% Fibonacci retracement level
and the red 21 moving average. This is
where we can expect the sellers to step in with a defined risk above the
resistance to position for a drop into the 37128 level. The buyers, on the
other hand, will want to see the price breaking higher to invalidate the
bearish setup and increase the bullish bets into a new all-time high.

Dow Jones Technical
Analysis – 4 hour Timeframe

On the 4 hour chart, we can see more
clearly the bearish setup around the 38464 resistance and we can also notice
that the trend on this timeframe has already shifted to the upside. This might
be an early signal for a rally into a new all-time high, but the price will
need to break above the resistance to confirm it and trigger an even stronger
bullish wave.

Dow Jones Technical
Analysis – 1 hour Timeframe

On the 1 hour chart, we can see that we
have a black counter-trendline that
is defining the current bullish momentum with the red 21 moving average acting
as dynamic support. The sellers will want to see the price breaking lower to
confirm a reversal and increase the bearish bets into new lows. The buyers, on
the other hand, will want to see the price breaking higher to start targeting
the all-time high.

Upcoming Events

Today we get the US Q1 GDP and the latest US Jobless
Claims figures. Tomorrow, we conclude the week with the US PCE report.

This article was written by FL Contributors at www.forexlive.com.

It is not commonplace for government officials to attend any central bank meeting, so this is definitely a peculiar one. But I guess it speaks to the delicate situation regarding the Japanese yen at the moment. The last time this happened was back in December last year, and before that was all the way back in April 2020 during the pandemic.

If there is no firm pushback by Ueda tomorrow, traders might take that as a green light to sell the yen further. USD/JPY is relatively unfazed by the headline for now, staying underpinned at 155.60 currently.

This article was written by Justin Low at www.forexlive.com.

Real estate investment has long been a cornerstone of wealth
construction, supplying balance, tangible property, and the potential for
appreciation. However, the conventional real estate marketplace has frequently
been characterized by boundaries to entry, illiquidity, and high transaction
fees. The emergence of the blockchain era and cryptocurrency is reworking the
real property landscape, making it more accessible, efficient, and obvious than
ever before, with platforms like bitcoins-union.com offering innovative
solutions for property transactions and investment opportunities in the digital
age.In this newsletter, we’re going
to discover the idea of tokenized homes, talk about the benefits of investing
in real estate with cryptocurrency, and examine the future of this
revolutionary funding technique.

Understanding tokenized
properties

Tokenized houses represent a groundbreaking innovation in the actual
estate market, leveraging blockchain generation to fractionalize ownership of
real estate belongings into digital tokens. These tokens are issued on a
blockchain platform, each representing a fractional proportion of the
underlying assets. By tokenizing actual property belongings, traders can gain
exposure to excessive-priced properties with a minimum of funding, unlocking
new opportunities for diversification and portfolio optimization.

Tokenization allows fractional possession of real estate assets,
allowing traders to buy shares of a property instead of the complete property
itself. This fractional possession model democratizes access to real property
investment, allowing individuals to spend money on houses that were formerly
out of reach because of high capital requirements. Additionally, tokenized
residences provide more suitable liquidity compared to conventional actual
estate investments, as buyers should purchase, promote, and alternate tokens on
secondary markets.

Benefits of Investing in
Tokenized Properties with Cryptocurrency

Investing in tokenized homes with cryptocurrency gives numerous
compelling blessings for traders:

Accessibility: Cryptocurrency enables transactions without
borders and frictionless transactions, permitting traders from around the
sector to take part in actual property markets without the need for
intermediaries or geographical constraints. Investors should buy tokenized
residences using cryptocurrency, getting rid of traditional obstacles to access
such as currency conversion, bank transfers, and regulatory hurdles.

Liquidity: Tokenized houses offer superior liquidity as
compared to conventional real estate investments, as investors should purchase,
sell, and alternate tokens on secondary markets conveniently. Blockchain-based
platforms facilitate peer-to-peer transactions, enabling buyers to access
liquidity quickly and effectively.

Fractional Ownership: Tokenization permits fractional ownership of
real property assets, permitting investors to buy shares of property in place
of the entire asset itself. This fractional ownership model lowers the barrier
to entry for traders, allowing them to diversify their portfolios across
multiple houses and asset classes.

Transparency: Blockchain generation offers transparency and
immutability to real property transactions, permitting buyers to monitor the
ownership records, transaction records, and overall performance metrics of
tokenized properties in real time. Smart contracts automate and implement the
terms of the investment, lowering the threat of fraud, manipulation, and
disputes.

Cost Efficiency: Tokenized residences offer value-green
investment options as compared to conventional real property investments, as
they put off many of the overhead costs associated with property possession,
along with preservation, property management, and administrative fees.
Additionally, blockchain-based transactions reduce transaction fees and
streamline the investment method.

The Future of Real Estate
Investment

The tokenization of actual property represents a transformative shift
in the way homes are bought, built, and financed. As blockchain technology
continues to mature and benefit mainstream adoption, we can expect to see a
proliferation of tokenized real property offerings across residential,
business, and industrial sectors.

Institutional traders, real property developers, and asset managers are
increasingly exploring tokenization as a method of unlocking liquidity, gaining
access to new capital markets, and streamlining the funding process. Platforms
that facilitate the tokenization of real estate assets are proliferating,
supplying buyers with a wide variety of funding opportunities and asset classes
to select from.

Additionally, regulatory frameworks governing tokenized real estate
investments are evolving to accommodate this emerging asset elegance.
Regulatory clarity and compliance are important factors in the tremendous
adoption of tokenized homes, as buyers are searching for assurances concerning
investor safety, legal rights, and regulatory oversight.

Conclusion

Investing in tokenized residences with cryptocurrency represents a
paradigm shift within the real estate marketplace, presenting traders with
unprecedented access, liquidity, and transparency. By leveraging blockchain
generation and cryptocurrency, investors can fractionalize possession of actual
estate assets, diversify their portfolios, and get entry to new investment
opportunities with ease.

The future of real property funding lies within the intersection of
blockchain technology and traditional asset training, where tokenization
unlocks price, liquidity, and performance for traders. As the tokenization of
actual property belongings continues to gain momentum, we anticipate seeing
expanded adoption, innovation, and funding in this burgeoning marketplace.

For investors in search of ways to capitalize on the ability of
tokenized houses, accomplishing thorough due diligence, understanding the
dangers and possibilities, and staying informed about regulatory tendencies are
critical. By embracing the future of real property investment with
cryptocurrency, buyers can position themselves for sustainable returns and
lengthy-term achievement inside the virtual economy.

This article was written by FL Contributors at www.forexlive.com.

• Prior 2

This was the worst April performance for retail sales since 2020, although CBI says that the earlier timing of Easter may have something to do with it. The expected retail sales for May isn’t any better either, with the reading coming in at -19. In the month before, the expected retail sales for April was -25.

This article was written by Justin Low at www.forexlive.com.

Headlines:

• FX traders have got their popcorn bags out
• USD/JPY but a whisker away from the pivotal 155 mark
• Japan senior lawmaker says yen slide towards 160 could prod action
• Aussie bounce runs into key level on the chart, what’s next?
• ECB’s Nagel: June rate cut not necessarily followed up by a series of rate cuts
• Germany April Ifo business climate index 89.4 vs 88.8 expected
• Switzerland April UBS investor sentiment 17.6 vs 11.5 prior
• UK April CBI trends total orders -23 vs -16 expected
• US MBA mortgage applications w.e. 19 April -2.7% vs +3.3% prior

Markets:

• AUD leads, CHF lags on the day
• European equities higher; S&P 500 futures up 0.2%
• US 10-year yields up 3.7 bps to 4.635%
• Gold down 0.2% to $2,316.38
• WTI crude down 0.6% to $82.87
• Bitcoin up 0.3% to $66,545

The story of the session was pretty much having your eyes glued to the USD/JPY ticker to see if traders would take a run at the 155.00 mark. The high touched 154.96 but there was no further advance to really threaten the figure level as price hovered around 154.85-92 for the most part. Close but no cigar.

The rest of the major currencies bloc didn’t get up to much as traders got their popcorn bags out instead. EUR/USD and GBP/USD are down a touch but nothing too substantial. The former is down 0.15% to 1.0683 while the latter is down 0.14% to 1.2431 on the day.

The aussie was a decent mover early on but ran into a test of its 200-day moving average against the dollar near 0.6530. AUD/USD then backed off but is still up around 0.25% at 0.6500 currently.

In the equities space, US futures are slightly higher but there are some nerves showing as S&P 500 futures briefly pared gains during the session. European indices are keeping a slight advance, hoping to keep the win streak going this week.

In the bond market, yields are higher again and that is also in part helping to underpin USD/JPY in general on the day.

This article was written by Justin Low at www.forexlive.com.

FBS, a
leading global broker that has recently launched an upgraded FBS app,
projects gold price surge to $2,800 per ounce by the close of 2024. FBS
financial market analysts have identified the pivotal factors driving the
bullish trend for gold and covered the potential strategies for CFD traders.

Gold is
among the assets characterized by stability and resilience in the financial
markets, making it an appealing instrument for investors. FBS analysts foresee
an upward trend for gold in Q2 and on until the end of the year. They associate
the bullish tendency with significant central bank buying, continued
inflationary pressures in the global economy, and increased demand for gold
from non-institutional investors.

Central
banks worldwide are actively fortifying their gold reserves, signaling a
strategic shift towards safer assets in the context of escalating geopolitical
tensions. FBS financial market analysts point out that hedging and
diversification of reserves has recently become typical of the People’s Bank of
China, the Monetary Authority of Singapore, the Reserve Bank of India, the
Central Bank of Turkey, and others.

Inflationary
pressures stemming from aftershocks of the global pandemic, military conflicts,
rising oil prices, and complications within prominent maritime trade routes
push gold prices further. According to FBS analysts, inflationary pressures are
increasing the attractiveness of gold as a hedge against currency devaluation
and declining purchasing power.

Non-institutional
investors are increasingly gravitating towards gold as a store of value and a
means of portfolio diversification. Total gold demand, including
over-the-counter markets, surged to historic highs in 2023, fueled by economic
uncertainty and evolving investment preferences, particularly in China.

Another
critical factor affecting the increased demand for gold is the interest of
non-institutional investors. Financial markets analysts from FBS indicate that
the total gold demand, including OTC markets, reached a new annual record in
2023 at approximately 4,899 tons. FBS analysts suggest taking a closer look at
China’s gold market, which is experiencing a noticeable surge in demand, to
understand the current trend better.

Looking
closely at the XAUUSD trajectory in the weekly timeframe, FBS analysts
underscore a bullish trend. Gold has updated its ATH, and the price is actively
testing the $2,400 resistance, corresponding to 161.8 Fibonacci. If XAUUSD
manages to break this level, investors can expect gold to rise further to
$2,800, which coincides with the 261.8 Fibonacci level. However, if there is a
correction, the price may fall to the support at $2,200 and then rush up to
$2,800.

Regarding
trading strategies, FBS’s experts stress the importance of prudent risk
management amidst bullish market conditions. Strategies such as controlling
position sizes, limiting trade deposits to 2-10% of the total portfolio, and
employing stop-loss orders are recommended to safeguard capital and encourage
diversification. These actions can be easily performed at the enhanced FBS app, which
allows traders to seize market opportunities on the go, anytime. Additionally,
FBS analysts recommend aligning with the prevailing market trend and utilizing
technical analysis tools like moving averages, RSI, and MACD.

Disclaimer:
This material does not constitute a call to trade, trading advice, or
recommendation and is intended for informational purposes only.

This article was written by FL Contributors at www.forexlive.com.

• Prior +3.3%
• Market index 196.7 vs 202.1 prior
• Purchase index 144.2 vs 145.6 prior
• Refinance index 472.7 vs 500.7 prior
• 30-year mortgage rate 7.24% vs 7.13% prior

Mortgage applications fell back in the past week, with refinancing activity leading most of the drop. It comes as the average interest rate of the most popular US home loan climbs by 11 bps to 7.24% – its highest since November last year.

This article was written by Justin Low at www.forexlive.com.

GBP

• The BoE left interest rates unchanged as expected but with Haskel and
  Mann this time voting for a hold instead of a hike.
• The employment report missed expectations with a big jump
  in the unemployment rate although the wage growth increased.
• The UK CPI beat expectations with Services inflation
  remaining sticky, which continues to support the BoE’s patient stance.
• The latest UK PMIs showed the Services PMI beating expectations
  and the Manufacturing PMI missing forecasts and slipping back into contraction.
• The UK Retail Sales missed expectations across the
  board.
• The market expects the first rate
  cut in August.

JPY

• The BoJ finally exited the negative interest rates
  policy as expected
  at the last meeting raising interest rates by 10 bps bringing the rate to a
  target between 0.00-0.10%. Moreover, the central bank scrapped the yield curve
  control and the ETF purchases, while maintaining QE in place.
• The latest Unemployment Rate missed expectations although it
  continues to hover around cycle lows.
• The Japanese PMIs improved further for both the
  Manufacturing and Services measures although the former remains in
  contractionary territory.
• The latest Japanese wage data came in line with expectations.
• The Japanese CPI came in line with expectations.
• The market expects another rate hike
  from the BoJ this year although the timing remains uncertain.

GBPJPY Technical Analysis –
Daily Timeframe

On the daily chart, we can see that GBPJPY fell
once again into the lower bound of the channel where the buyers piled in to
push the price back into the highs. The pair continues to get rejected from the
193.00 resistance and this
led to a rangebound price action. The buyers will need to break through the
level to increase the bullish bets into new highs, while the sellers will look
for a break below the lower bound of the channel to position for a drop into
the 187.96 level.

GBPJPY Technical Analysis –
4 hour Timeframe

On the 4 hour chart, we can see more clearly the
range between the 193.00 resistance and the 190.00 support. The market
participants will likely continue to play the range by selling at resistance
and buying at support until we get a catalyst to trigger a breakout on either
side.

GBPJPY Technical Analysis –
1 hour Timeframe

On the 1 hour chart, we can see that the
latest push higher diverged with
the MACD, which
is generally a sign of weakening momentum often followed by pullbacks or
reversals. In this case, it might be a signal for another reversal from the
resistance into the support. The sellers should step in around these levels
with a defined risk above the resistance to position for a break below the
lower bound of the channel with a better risk to reward setup. The buyers, on
the other hand, should wait to buy around the support.

Upcoming Events

Tomorrow we will see the latest US Jobless Claims
figures. On Friday we conclude the week with the BoJ Rate Decision, the Tokyo
CPI and later in the day, the US PCE report.

This article was written by FL Contributors at www.forexlive.com.