Weekly Fundamental Forecast: Brexit Top Concern for All FX Traders
There is a lot of scheduled event risk scheduled throughout the coming week, but all traders will be focusing on one particularly acute threat to the market's calm: the UK's Brexit vote.
The Dollar usually exacts its influence over the rest of the FX market by virtue of its size.
If the UK votes to leave the European Union, don’t be surprised if you hear market participants speculating about the viability of the Euro over the long-term.
This time next week, unless something unexpected takes place, we will finally have the results of the widely-awaited upon Brexit referendum.
USD/CAD fell nearly across the board this week as Commodity-FX took a back seat to the volatility surrounding the British Pound ahead of the EU Referendum on Thursday as well as the overtly dovish Federal Reserve and Silent Bank of Japan.
Beyond the U.K. Referendum, the semi-annual Humphrey-Hawkins Testimony with Fed Chair Janet Yellenmay largely influence USD/JPY in the week ahead as market participants weigh the outlook for monetary policy.
Under normal circumstances, the week ahead might have brought a variety of potential market movers for the Australian Dollar.
Gold Prices rallied for a third consecutive week with the precious metal up more than 1.25% ahead of the New York close on Friday.
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