Weekly Trading Forecast: How Will Markets Position to End 2017?
Financial markets have just one full week of trade left in 2017. Here is what major currencies, commodities and equity indexes might do with it.
The US Dollar plunged despite a seemingly hawkish lead from the Federal Reserve. It will probably struggle to find a lifeline before the calendar turns to 2018.
Clear signs that the ECB's normalization process is underway may be good long-term, but for the foreseeable future, supersaturated net-long positioning in the futures market may be a handicap for the Euro.
Next week brings the final Bank of Japan rate decision for 2017, and while inflation remains well-below the bank’s 2% target, the BoJ appear steadfast and determined to drive-in higher prices.
The Australian Dollar got unexpected lift from both local and international factors last week. It can’t rely on more of the same in the coming sessions however.
A marked pickup in Canada’s headline reading for inflation may rattle the near-term resilience in USD/CAD as it puts pressure on the BoC to further normalize monetary policy.
In light of recent bad news in the crude oil market failing to significantly reverse the trend, oil traders are holding onto their optimistic views.
Equities Forecast: S&P 500, DAX & FTSE Outlook; Markets Looking to Close Year Strong
This past week we had three major central bank meetings, the week ahead quiets down as the year quickly draws to a close; markets looking to close out year on a strong note.
Gold prices rebounded off critical support this week with the Fed inspired rally now eyeing initial targets. 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.
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