Weekly Trading Forecast: Markets Menaced by Heavy-Duty Event Risk
Financial markets look set for a volatile week ahead as a steady stream of top-tier event risk from across the G10 landscape batters asset prices.
The US Dollar suffered the largest drop in nearly two months last week as 2018 Fed rate hike expectations cooled.
Coming off of a string of much stronger than expected Euro-Zone PMI data, the Euro has few obstacles in its way on the calendar to continue its push higher.
We remain neutral on GBP at this moment but will be watching a range of fundamental drivers over the next week for confirmation that Sterling’s current strength is justified going forward.
Australian Dollar bulls were modest beneficiaries of a little US Dollar weakness last week.
It was another strong week for Oil, as the Monday pullback to 55.75 brought bulls back in to catapult prices up to another fresh two-year-high.
The range Gold has carved out over the past 25 trading days amounts to the smallest spans of price action seen in 10 years. Don’t expect this historically volatile and fundamentally-inclined metal to hold steady forever.
Last week was a holiday-shortened week, with markets closed for the Thanksgiving holiday on Thursday and early on Friday.
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.