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Forex Trading Weekly Forecast - 10.15.2012

Forex Trading Weekly Forecast - 10.15.2012

US Dollar in its Longest Rally Since June, Moment of Truth this Week

- The US dollar manged to carve out its strongest run in the last four months. With the earnings season underway, EU summits and Chinese data releases, any potential dissapointment may push the greenback towards 10,000.

British Pound Volatility Risk Grows Ahead of Key Economic Data

- The British pound has rode on the coattails of the Euro and general risk sentiment. But, the coming week’s inflation data and Bank of England Meeting Minutes could provide momentum for the sterling's own move.

Euro Could See Major Boost at Summit: Spain Asks for Bailout

- The Euro had a rough week against major counterparts. All eyes remain on Spain and wonder if the Iberian nation will finally request aid.

Yen Benefits From Real Rates - Remains Bullish Despite Dovish BoJ

- The yen had an unimpressive performance this week, staying relatively unchanged against the dollar. Yet, the Japanese currency's strength may persist before any new intervention calls.

Australian Dollar: Early Strength Likely to Fade on RBA Rate Cut Bets

- Markets continue to discount Australia's economic strength as the RBA continues dovish policies. However, markets will be watching Chinese inflation and GDP data on Monday and Thursday for further cues.

Gold Slides to Fresh Monthly Low- $1739 Estimated Range Low

- While further weakness is likely in the near-term, losses are likely to remain limited as central banks around the world continue to strike a dovish outlook for monetary policy amid ongoing concerns regarding global growth prospects.

Canadian Dollar Outlook Propped Up By Faster Growth, Inflation

- While the Canadian dollar has weakened agains its American counterpart, markets continue to expect the Bank of Canada to raise rates. Governor Carney's speeches this week will reveal more about Canadian monetary policy going forward.

New Zealand Dollar Subject to Risk Trends - Watch Europe

- With only CPI on the economic docket for the island nation, the Kiwi dollar's performance is expected to be greatly influenced by both Europe and China during the next week.

Forex_Trading_Weekly_Forecast-10.13.2012_body_cover.png, Forex Trading Weekly Forecast - 10.15.2012

The US dollar has carved out its strongest run in four months this past week. With Friday’s close, the Dow Jones FXCM Dollar Index (ticker = USDollar) managed its fourth consecutive weekly advance, the longest bullish run since the opening week of June – when the currency peaked at two-year highs just above 10,300. With third quarter earnings, Chinese data and European summits on tap this week, will the dollar continue its run towards 10,000?

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.