With event risk like US non-farm payrolls, Chinese Manufacturing PMI and rate decisions from the ECB, BoE and Fed, this week is sure to be volatile in FX markets. Here’s what we are looking at.
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The Dow Jones FXCM Dollar Index (ticker = USDollar) dropped for a third consecutive week through this past Friday as volatility leveled off and ‘Taper’ concerns eased during a lull in the economic docket…
On the back of improved peripheral data, the Euro is set to have a strong finish to July from a fundamental perspective - provided two key events in the coming week break in particular fashions; we're bullish.
The British Pound continued to pare the decline from earlier this year, with the GBPUSD pushing to a fresh monthly high of 1.5433, and the sterling looks poised to appreciate further next week as the Bank of England (BoE) appears to be slowly moving away from its easing cycle…
The AUDUSD pairing has made a tentative shift in momentum but the coast is far from clear for bears as a packed US economic calendar threatens to and pull the currency into the “taper on/off” debate surrounding the direction of Federal Reserve policy.
Gold prices are markedly higher at the close of trade this week with the precious metal rallying 2.87% to trade at $1332 at the close of trade in New York on Friday…
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