Trading Forecast: Euro, Dollar and Pound Face Strong Winds This Week
Key event risk in US NFPs, Greek negotiations, a UK election and RBA rate decision set the FX market up for volatility in the week ahead.
US Dollar Forecast– Dollar Technicals Say Bearish Reversal, Fundamentals Don’t Agree
This past week, the USDollar posted its first drop on a monthly basis in 10 consecutive months.
Euro Forecast - Euro Covering Rally Potential Unleashed, NFPs Only Obstacle
Rising yields in the Euro-Zone coupled with weakening equity markets have provoked a short covering rally in EURUSD.
Japanese Yen Forecast – US Dollar May Finally Break Out versus Japanese Yen
The Japanese Yen finished the week notably lower versus the US Dollar but stuck to its long-standing trading range.
British Pound Forecast – GBP/USD Advances Fizzles Ahead of U.K. Election- 1.5000 on Radar
Headlines surrounding the U.K. election are likely produce increased volatility for GBP/USD, but the uncertainties clouding the fiscal outlook may only act as a near-term driver for the British Pound as the Bank of England (BoE) remains on course to normalize monetary policy.
Australian Dollar Forecast – Australian Dollar May Rise as RBADisappoints Rate Hike Bets
The Australian Dollar may rise if the RBA decides not to cut interest rates its May meeting. Seemingly compelling evidence suggests they may opt to do just that.
Gold Forecast – Gold Marks Outside Weekly Candle on FOMC- 1165 in Focus Ahead of NFP
Gold prices fell to a 6-week low with the precious metal off by more than 0.50% to trade at $1172 ahead of the New York close on Friday.
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