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Weekly Trading Forecast: Trade Wars and Rate Decision Keep Traders on Edge

Weekly Trading Forecast: Trade Wars and Rate Decision Keep Traders on Edge

Capital and FX markets held remarkably stable given the fundamental pressure filling the horizon. With trade wars steadily gaining traction, key rate decisions (Fed, ECB, BoJ) and a range of high profile event risk the week ahead; traders should keep close watch on sparks in the markets.

See how retail traders are positioning in the FX majors, indices, gold and oil intraday using the DailyFX speculative positioning data on the sentiment page.

US Dollar Forecast: US Dollar Uptrend May Regain Momentum on G7, FOMC Outcomes

The US Dollar remained on the defensive for much of last week as markets continued to revel in the de-escalation of Eurozone political risk. Haven-seeking capital flows that launched the currency to an 11-month high as governments in Rome and Madrid appeared ready to implode reversed course after both managed to muddle through (at least for now).

Euro Forecast: Euro Rebound Faces Test with ECB Meeting on Thursday

Rumors that the ECB is getting ready to make a tweak to its QE program have spurred the Euro turnaround. The Euro will need more than rumors to keep its rebound going.

British Pound Forecast: Heavyweght Data to Dictate GBP Direction

Sterling is set to be dictated as key data kicks into high gear amid the backdrop of rising Brexit uncertainty.

Japanese Yen Forecast: The BoJ is On Deck, but Beware of Risk Trends From FOMC, ECB

It was another mixed week for the Japanese Yen, as the currency put in another indecision formation on the weekly chart of USD/JPY.

Canadian Dollar Forecast: USD/CAD to Eye 2018-High on Hawkish FOMC Rate Hike

USD/CAD holds near the monthly-high (1.3067) as the unexpected contraction in Canada Employment dampens bets for an imminent Bank of Canada (BoC) rate-hike, and the pair stands at risk of making a more meaningful run at the 2018-high (1.3125) especially if the Federal Open Market Committee (FOMC) delivers a hawkish rate-hike next week.

Australian Dollar Forecast: Australian Dollar Could Well Feel Rate Differential Chills Again

The Australian Dollar has just endured something of a volatile week. The good news, perhaps, is that it may not be set for a repeat in the next seven days. The bad news, for bulls at least, is that there are few reasons to expect much more strength.

Chinese Yuan Forecast: Yuan Eyes on FOMC, China-US-North Korea Relations, Investment Gauge

The Chinese Yuan gained against the U.S. Dollar after three consecutive losses. This was largely driven by the reduced momentum in the Dollar rally.

Gold Forecast: Gold Prices Hold Tight Range Ahead of FOMC, North Korean Summit

Gold prices inched higher this week with the precious metal up nearly 0.30% ahead of the New York close on Friday. The gains come amid continued strength in U.S. equity markets with the S&P 500 pressing higher for a third consecutive week.

Equities Forecast: S&P 500, DAX & FTSE - Fed, ECB in Spotlight Next Week

Looking ahead to next week, on Wednesday the Fed is expected to raise rates by 25 bps, and barring a major surprise on that front attention will, as per usual, be on the language and forward indications.

Crude Oil Forecast: Crude Oil Set To Fall Further as View of OPEC Production Hike Firms

Crude oil may have a difficult time resuming the trend that was so prevalent in the first half of the year as OPEC plans to fight sanctions and increase productions while US oil inventories showed the sharpest increase in US oil stockpiles since October 2008.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.