Forex Trading Weekly Forecast 04.15.2013
The Japanese Yen came within a hair’s width of the critical ¥100 mark against the US Dollar (ticker: USDOLLAR), once again posting the worst 7-day performance of any major currency two weeks after the Bank of Japan embarked on hyperactive Quantitative Easing measures.
Gold plummeted this week with the precious metal falling nearly 5% to trade at $1502 at the close of trade in New York on Friday. The loss pushed bullion below key technical barriers with Friday's range marking the largest decline in more than a year. However, with data out of the world's largest economy coming under increased scrutiny, could weak US data help support the battered metal? Don't count on it.
The Australian Dollar looks to the corporate earnings docket to break the deadlock between competing fundamental trends and offer a clear directional bearing.
The New Zealand Dollar continued its gains for the fifth consecutive week, rallying by 1.7 percent against the Greenback.
How does a Currency War affect your FX trading?
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