Weekly Trading Forecast: BOE, RBNZ Compete with Fed for Attention
Financial markets preoccupied with the direction of Fed monetary policy will have to make room for rate decisions form the RBNZ and the BOE in the week ahead.
The US Dollar has scope to continue building higher after enjoying the most aggressive three-week rally in nearly two years against its major currency counterparts.
The Euro correction has continued, and EUR/USD is testing below the vaulted 1.2000 level. As the economic backdrop in Europe continues to slow, the possibility of further Euro losses remain.
GBP fails to find reprieve after another run of uninspiring data points. Focus now turns to the Bank of England Quarterly Inflation Report.
The Japanese Yen could rise if uncertainty over the Iran deal hurts sentiment and boosts anti-risk assets. Other domestic and external event risks could once again swing the currency.
There’s plenty of Australian economic data on tap this week, but it’s not going to shift interest-rate expectations. Therefore it’s unlikely to help battered Aussie bulls
Chinese Yuan Forecast: Yuan May Lose on Weak Exports, Gain on Warmer China-Japan Relations
The Chinese Yuan may face a mixed impact from the unsolved US-China trade discrepancies and a reset in China-Japan ties.
Jitters surrounding the coming May 12 deadline for US President Trump to abandon Iran accord has supported the price of Crude despite record US production.
Equities Forecast: Bullish DAX Momentum Gathers Pace, S&P 500 Remains Bid Following FOMC
The near-term outlook for the DAX remains tilted to the topside, while the S&P 500 looks poised for a breakout amid the narrowing threat for a global trade war.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.