Weekly Trading Forecast: Volatility and Breakouts Await Dollar and the Majors
The Dow Jones FXCM Dollar Index (ticker = USDollar) rose every day of the past trading week. We haven’t seen a five consecutive day advance from this benchmark since the run through November 1 – notably the beginning of an impressive bull run for the greenback.
The Euro was a top performer by the end of the week, but a batch of incoming data – especially on the inflation front – could destabilize the Euro’s recent run of resiliency.
The British Pound went from market leader to laggard, falling for five-consecutive trading days just after setting fresh multi-year highs the week before.
Gold prices nudged higher this week with the precious metal advancing 0.25% to trade at $1322 ahead of the New York close on Friday.
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.