Weekly Trading Forecast: FX Traders Brace for Huge Week Ahead
Major market volatility is nearly guaranteed on big tests ahead for the US Dollar and broader FX markets. Here are the critical events we’re watching.
It was a difficult week for traders as the initial US Dollar breakdown left many (including us) looking for further losses.
The sharp pullback in EUR/USD may gather pace in the week ahead should the European Central Bank (ECB) signal a further expansion of monetary policy, while another 200K+ U.S.
JPY saw its biggest rally vs. the USD since 2009 throughout this week’s early market turmoil.
The Australian Dollar looks vulnerable to deeper losses in the week ahead as Fed rate hike bets rebuild while RBA rhetoric takes a dovish turn.
Gold prices plummeted this week with the precious metal off by more than 2% to trade at 1137 ahead of the New York close on Friday.
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