Forex Weekly Forecast: Dollar is the Big Loser until this Changes
Tensions are running high as the S&P 500 hits its worst streak since the heights of the Global Financial Crisis. But all hope is not lost—we’re keeping an eye on these key themes in the big week ahead.
EUR/USD has stayed elevated amid falling Fed rate hike expectations, but it seems like it’s only a matter of time until the ECB starts to make more noise over recent economic and financial market developments.
It’s been quite the week for the Yen, and taking a step back, it’s been quite the two-week stretch for the Japanese currency.
The Canadian Dollar continues to claw back some of the 23% drop since the May 2015 low against the US Dollar.
The Australian Dollar recoiled sharply higher after hitting a 4-year low but a deteriorating RBA policy outlook and churning sentiment trends may renew selling pressure.
Gold prices soared for a fourth consecutive week with the precious metal rallying more than 5% to trade at 1247 on Thursday evening in New York.
The offshore Yuan (CNH) rose to the highest level in two months against the US Dollar this week thanks to a smaller-than-expected drop in China’s foreign reserves combined with Chair Yellen’s testimony saying that negative rates are not out of the question for the US economy.
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