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.
The fundamental developments due out next week may spur a near-term advance in USD/JPY as Japan’s 2Q Gross Domestic Product (GDP) report is anticipated.
A substantial breakout seems unlikely as traders tread softly in the month of August but watch significant UK CPI and Retail Sales for surprises.
The Australian Dollar may be stymied in its ability to capitalize on an improving monetary policy outlook by external forces yet again.
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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