Weekly Trading Forecast: Markets Consumed by US Politics
Global financial markets remain engrossed in the drama of US politics as investors weigh up the still-murky fiscal plans of President Donald Trump.
This week saw a heavy inclusion of U.S. drivers, which was somewhat to be expected for a week that had both the FOMC and Non-Farm Payrolls on the calendar.
A dramatically quieter calendar this week will leave the Euro without significant drivers, making the newsfeed the biggest risk in the coming days.
With politics rather than economics continuing to drive the British Pound, attention in the coming days will be fixed on the Brexit Bill as it winds its way through the Westminster Parliament.
Japanese Yen price action is likely to become increasingly erratic and volatile as financial markets test the Bank of Japan’s resolve to stick with its policy platform
The Australian Dollar is certainly underpinned, not least by those blockbuster export figures. But where is the impetus for it to push yet higher
NZD/USD may consolidate ahead of the RBNZ’s policy meeting as it remains stuck within the narrow range carried over from the end of January, but the pair may continue to threaten the descending channel carried over from the previous year.
The climate continues to be ripe for Canadian Dollar appreciation despite Stephen Poloz’s speech that seemed to over-mention the “uncertainty” in the current environment.
Chinese Yuan Forecast: Yuan to Take Clues from the PBOC, Key Data
The offshore Yuan strengthened to 6.7919 against the U.S. Dollar as of 12pm EST on Friday, the strongest level in two weeks.
Gold prices charged higher this week, recovering all the losses sustained in the previous session with the yellow metal rallying 2.3% to trade at 1219 ahead of the New York close on Friday.
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See the DailyFX 1Q 2017 forecasts for the Dollar, Euro, Pound, Equities and Gold in the DailyFX Trading Guides page.
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