Weekly Trading Forecast: NFPs and Market Volatility Threaten to Break Ranges
The ranges developed around the FX Majors and equity indexes this past week will be in jeopardy with key event risk like NFPs ahead.
US Dollar Forecast – US Dollar Nears 12 Year Highs But Does It Have Motivation to Break?
The US Dollar posted an impressive advance this past week, but it conspicuously fell short of breaking the 12-year high on the Index and clearing key range boundaries with major counterparts.
Euro Forecast - Major Euro Influences to Come from Within, Less Likely from Abroad
Inflation data from Germany and the Euro-Zone could prove to be significant to the Euro over the coming days, especially against a backdrop of falling inflation expectations and depressed energy prices.
Japanese Yen Forecast – USD/JPY Vulnerable as Yen Leans on ‘Funding-Currency’ Status
The long-term outlook for USD/JPY remains bullish amid the deviating paths for monetary policy, but the range-bound price action in the exchange rate may unravel in the days ahead as market participants continue to treat the Japanese Yen as a ‘funding-currency.’
Australian Dollar Forecast – Australian Dollar at the Mercy of US, China News Flow Once Again
The Australian Dollar continues to look to external developments for direction cues, with prices at the mercy of US and Chinese news-flow in the week ahead.
Canadian Dollar Forecast – The Canadian Economy is Ensnared by the Impact of Falling Oil Prices
CAD finished the week higher against the USD by ~1% and benefited similar to other commodity currencies post-FOMC against the USD within the G10.
New Zealand Dollar Forecast – NZD Ends Week on a Positive Note After Fonterra Upgrades Forecast
Fonterra raised their milk payout forecast on Thursday giving NZD an end-of-week boost.
Gold Forecast – Gold Rallies Into Critical Resistance Ahead Fed, NFP
Gold prices are firmer for the second consecutive week with the precious metal up 0.57% to trade at 1145 ahead of the Ney York close on Friday.
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