Weekly Trading Forecast: Is this the Week EURUSD Finally Breaks 1.2000?
Though the ECB decided to snuff speculation of a full QE upgrade at its meeting this past week, strong NFPs made sure to drive EURUSD to historic support. Will the definitive stroke in the Dollar's rally come this week?
The US Dollar has dominated teh FX market in the second half of 2014.
If the current measures, the TLTROs and ABS-program, fail to begin lifting the ECB’s balance sheet back towards its early-2012 levels, the ECB will assess whether or not it needs to engage in more aggressive easing policies in order to stoke growth and inflation as soon as the January 22 meeting.
Domestic developments remain largely an afterthought for the Japanese Yen even as the December 14 snap election looms ahead.
GBP/USD slipped to a fresh monthly low of 1.5568 as U.S. Non-Farm Payrolls marked the largest advance since January 2012.
Despite the ‘No’ vote on the Swiss Referendum, Gold prices are higher this week with the yellow metal rallying more than 1.9% to trade at $1189 ahead of the New York close on Friday.
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