Weekly Forex Trading Forecast:FX Market Holds Breath for Debt Deal
The Euro had a mixed week as US fiscal headlines were the main focus of price action across asset classes around the globe.
The British Pound struggled to maintain the bullish trend dating back to July even as the Bank of England (BoE) retained its current policy at the October meeting, but the sterling may trade on a firmer footing next week should the fundamental developments coming out of the U.K. encourage the central bank to implement its exit strategy ahead of scheduled.
Gold prices plummeted 3.21% this week with the precious metal trading at $1268 ahead of the New York close on Friday.
The Australian Dollar’s recovery faces an important challenge from key Chinese economic data while the budget impasse in the US threatens to unleash risk aversion.
How does a Currency War affect your FX trading?
Written by the DailyFX Research Team. To sign up for a weekly e-mail with our currency outlooks, go to our page for forex news delivered to your inbox.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.