UK Economic Performance Revised Lower
The initial reading of UK first quarter economic activity suggested a sharp decline in the rate of expansion of the economy from the previous quarter.
EUR/USD and GBP/USD Forecast
The EUR/USD pair initially tried to rally during the session on Thursday, but found enough resistance near the 1.1250 level to turn things around and form a bit of a shooting star.
USD/JPY and AUD/USD Forecast
The USD/JPY pair rose slightly during the day on Thursday, as we continue to bounce around just below the 112 level. The Australian dollar initially tried to rally, but then rolled around and showed a very bearish price action.
S&P 500 and NASDAQ 100 Forecast
The S&P 500 broke higher during the session on Thursday, breaking out above the recent highs that we had seen. The NASDAQ 100 broke higher again during the day on Thursday, reaching towards the 5800 level.
WTI Crude Oil and Natural Gas Forecast
The WTI Crude Oil market initially tried to rally but after the OPEC announcement of an extension of the production cuts by 9 months, the market sold off.
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