Weekly Trading Forecast: US Taxes, RBA and RBNZ Vie for Attention
The battle to pass Fed-influencing US tax cut legislation will vie with policy announcements from the RBA and the RBNZ for the markets' attention.
The US Dollar is likely to find its fortunes linked to the prospects of passing tax cut legislation that markets think might lead to a steeper Fed rate hike cycle in 2018.
While the broad market bias may have turned bearish on the Euro in the near-term, its losses may not run too deep without new catalysts at home and abroad.
The post-Bank of England sell-off in Sterling has pushed it back towards support levels and may offer bullish traders a second bite of the cherry.
The series of failed attempt to test the July-high (114.50) raises the risk for a near-term correction in USD/JPY as the pair preserves the range from earlier this year.
Australian Dollar bulls can probably look forward with scant relish to this week’s interest rate decision. Unless the RBA has had a major change of heart it won’t offer them much.
Next week’s RBNZ meeting comes amidst a tidal wave of change facing the Central Bank. While caution will likely be the order of the day, will Kiwi sellers remain at bay?
Chinese Yuan Forecast: Yuan Looks to Trump-Xi Meeting, New Yuan Loans
The Chinese currency will embrace risks from both top leaders’ meetings and economic events in the coming week.
The price of Crude Oil is set to rise another week, making it the fourth advancement of both WTI Crude and ICE Brent Oil. In late trading on Friday
Equities Forecast: S&P 500, DAX & FTSE All Notch New Record Highs; More to Come?
All three indices closed in record territory last week, will markets keep on keeping in the week ahead?
Prices continue to hold above key technical support with the focus on a break of the October trading range. Here are the updated targets & invalidation levels that matter.
See what live coverage is scheduled to cover key event risk for the FX and capital markets on the DailyFX Webinar Calendar.
See how retail traders are positioning in the majors using the IG Client Sentiment readings on the sentiment page.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.