Weekly Trading Forecast: ECB, BoE, NFPs and Much More Ahead
There is an avalanche of high-level event risk due in the week ahead. Beware volatility and mark the key releases and trends for your trades.
Though the USDollar cooled its pace modestly from the strongest weekly advance in two years, the currency nevertheless put in for another impressive advance.
The calendar is packed on both sides of the pond this week, leaving EURUSD extremely vulnerable to headlines and economic data.
GBP/USD remainsat risk of facing a further decline in the week ahead should the fundamental developments coming out of the U.K. & U.S. heighten bets of seeing the Federal Reserve normalize monetary policy ahead of the Bank of England (BoE).
The Japanese Yen finally broke out of its long-standing range versus the US Dollar and fell to decade-plus lows. Momentum clearly favors further US Dollar gains and Yen losses, but key US event risk and a planned speech from the Bank of Japan offer the potential for volatility in the week ahead.
The Australian Dollar is bracing for a volatile week ahead, with the RBA in focus domestically while Chinese and US news-flow threatens to deliver external shocks.
Gold prices are lower for a second consecutive week with the precious metal off by more than 1.2% to trade at 1191 ahead of the New York close on Friday.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.