Weekly Trading Forecast: All Eyes on the White House Yet Again
Financial markets will be looking to the White House for direction again as its actions stoke worries about wars of the military and currency variety.
The US Dollar may rebound as the impact of President Trump’s jawboning recedes and signs of a political accommodation with Russia and North Korea appear plausible.
Another quiet economic calendar in the week ahead has the Euro driven largely by developments surrounding other major currencies, and of course, the French presidential elections on April 23.
Concerns surrounding Syria accompanied by the threat posed by North Korea appears to have heighten the appeal of the Japanese Yen especially as the U.S. becomes increasingly involved in foreign affairs.
Gold Forecast: Gold Rally Flirts with Major Breakout on Trump / Dollar
Gold prices are poised to close higher for the fifth consecutive week with the precious metal up more than 2.6% to trade at 1286 ahead of the New York close on Thursday.
Equities Forecast: S&P 500, DAX & FTSE 100 Could Be in for a Tough Week
In the week ahead, the economic calendar is quite light on ‘high’ impact events, with several ‘medium’ impact releases due out in the U.S. throughout the week.
Nationwide US Oil Output moved to its highest level since January 2016 per the EIA report on Wednesday despite U.S. Crude stockpiles falling by 2.2m barrels.
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