Weekly Trading Forecast: Rate Forecasts, China and Commodities Top Concerns
A few major themes have seemingly come to a close (rapid Yuan devaluation and Greece crisis) and now new ones will step in (rate speculation and commodities).
The ‘Summer Lull’ doesn’t do the US Dollar any favors. As a favored haven currency, the reduced volatility - and thereby risk - curbs its innate demand.
A substantial breakout seems unlikely as traders tread softly in the month of August but watch significant UK CPI and Retail Sales for surprises.
Gold prices are markedly higher after a seven week losing streak with the precious metal up 1.8% to trade at 1114 ahead of the New York close on Friday
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