We have seen sentiment start off to a remarkable robust clip for 2018, but how much of that is due to an absence of heavy event risk to undermine momentum born of complacency? That question will be put to the test next week with ECB and BoJ rate decision, US and UK GDP figures and much more.
US Dollar Forecast: U.S. Dollar’s Three-Year Lows Run into GDP, BoJ, ECB
The U.S. Dollar continued its descent by setting another fresh three-year low to kick off this week. But a heavy batch of headline risk may allow for respite in what’s become an aggressively bearish trend.
The Euro has gained considerable ground since the last ECB meeting on December 14, opening the door for a dovish Mario Draghi at this week’s policy meeting and press conference.
GBPUSD continues to move ahead strongly but is probably not yet ready to breach the psychologically important 1.40 level.
The Australian Dollar has put in a magnificent performance since early December, at least it has if you’re a bull. There may not be scope for much more this week
Chinese Yuan Forecast: Yuan Looks to US-China Trade Talks, PBOC Policies
Next week, the Yuan will face a risk of the U.S. imposing trade sanctions against China. At the same time, the PBOC will continue to guide the Yuan and crack down cryptocurrencies.
Crude Oil Forecast: Oil Prices Vulnerable to Signs of Growing U.S. Crude Output
Crude oil prices may continue to give back the advance from earlier this year as U.S. production is expected to hit fresh record highs in 2018.
Gold Forecast: Gold Prices Snap Five-Week Winning Streak, U.S. GDP in Focus
Gold prices turned just ahead of resistance with the advance still vulnerable ahead of key data next week. Here are the updated targets & invalidation levels that matter.
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See how retail traders are positioning in the majors using the IG Client Sentiment readings on the sentiment page.