Weekly Trading Forecast: Traders Deal with NFPs and a US Holiday Next Week
Hope is high amongst traders that the low volatility environment that has forced many to change to a short-term approach or stay sidelined for near-perfect setups will end soon. Volatility is a critical ingredient to the dollar’s performance moving forward.
The Japanese Yen showed signs of life as it posted its largest weekly gain versus the US Dollar in two months. But will the coming week produce the long-awaited breakout?
The GBP/USD held within the previous week’s range as the Bank of England (BoE) laid out new measures to stem the risk for an asset-bubble, but the bullish sentiment surrounding the British Pound may gather pace throughout the second-half of the year as the central bank shows a greater willingness to start normalizing monetary policy sooner rather than later.
Domestic policy returns to focus for the Australian Dollar in the week ahead as all eyes turn to the RBA interest rate decision. Economists’ expectations suggest Governor Glenn Stevens and company will leave the baseline lending rate unchanged yet again.
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