Weekly Trading Forecast: Dollar Struggles with Recovery, Euro Faces Greece, Pound Awaits BoE
A notable slip in risk trend and rebound from the Dollar this past week has spurred speculation of reversals. However, is there enough fundamental leverage to change the market's tack and develop serious moves?
Q1’16 growth figures due at the end of the week should garner some attention, but the Euro remains without a sincerely meaningful domestic driver in the short-term.
The Japanese Yen gave back some of its recent gains versus the US Dollar in a choppy week for financial markets.
It was just seven months ago that we were going into the Bank of England’s Super Thursday announcements with the potential of hearing about a rate hike in the not-too-distant future.
The offshore Yuan (CNH) rate closed at a five-week low against theUS Dollaron Friday following the biggest downward move in Yuan fixing by the PBOC since the Yuan’s de-pegging.
The US Dollar surprised a lot of G10 currencies this week, but few more than the New Zealand Dollar and other commodity currencies.
The Australian Dollar is vulnerable to deeper losses as risk aversion continues to batter the financial markets, putting pressure on the sentiment-sensitive currency.
Gold pricesare softer this week with the precious metal off 0.21% to trade at 1290 ahead of the New York close on Friday.
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