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  • The 10-day range and realized volatility (ATR) on $USDMXN are the lowest since 2008 and 2014 respectively. Breakout risk is high - when the right spark comes along (eg FOMC) https://t.co/teP1XQI7W6
  • Bitcoin taking a breather today after rallying back above $47,000. 50-day MA crosses back above the 200-day MA $BTCUSD #Bitcoin https://t.co/5Yidx9WQhc
  • AUD/USD extends the decline following the larger-than-expected contraction in Australia employment as fresh data prints coming out of the US fuel speculation for an imminent shift in monetary policy. Get your $AUDUSD market update from @DavidJSong here:https://t.co/40vc0oCeiE https://t.co/vjrF47cALn
  • Gold prices are plodding along below symmetrical triangle support, with momentum indicators starting to point lower. Get your market update from @CVecchioFX here: https://t.co/9JDAY4QlnJ https://t.co/ftL6JbIC3c
  • Ouch. S&P Global said today that El Salvador's announcement that Bitcoin was legal tender represented an 'immediate' negative credit risk to its B- standing. They warn of trouble with IMF fund access and fiscal vulnerabilities. #Bitcoin
  • 🇺🇸 Overall Net Capital Flows (JUL) Actual: $126B Previous: $32B https://www.dailyfx.com/economic-calendar#2021-09-16
  • 🇺🇸 Foreign Bond Investment (JUL) Actual: $10.2B Previous: $10.9B https://www.dailyfx.com/economic-calendar#2021-09-16
  • US equities have come under a bit of pressure recently which has played in nicely with the recent trend in the S&P 500, which has been bouncing off a key trendline support for the past year. Get your market update from @HathornSabin here:https://t.co/QIyCQJUasG https://t.co/LxuUGGY4yS
  • Heads Up:🇺🇸 Overall Net Capital Flows (JUL) due at 20:00 GMT (15min) Previous: $31.5B https://www.dailyfx.com/economic-calendar#2021-09-16
  • Heads Up:🇺🇸 Foreign Bond Investment (JUL) due at 20:00 GMT (15min) Previous: $10.9B https://www.dailyfx.com/economic-calendar#2021-09-16
Weekly Trading Forecast: EURUSD Policies Diverge, BoE and ECB Forum on Tap

Weekly Trading Forecast: EURUSD Policies Diverge, BoE and ECB Forum on Tap

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: Trade Wars, Fed-Speak Line Up as Upside Catalysts

The US Dollar regained upward momentum last week, as expected. The currency emerged from a week loaded with high profile event risk with the strongest advance since late April. A hawkish monetary policy announcement from the Federal Reserve and a decidedly dovish one from the ECB did most of the work. The latter sank the EUR/USD exchange rate, which echoed as broader strength for the US unit.

Japanese Yen May Gain as Focus Shifts Back to Trade War Fear

Looking at an average performance of the Japanese Yen against its major peers, the currency experienced a volatile week but was on course to finish it mostly little changed. It first fell as optimism ahead of the Trump/Kim summit lifted sentiment. However, it found itself rising in the aftermath of the Fed and ECB rate decisions later on.

Australian Dollar Faces Calmer Week, But That May Not Save It

The Australian Dollar faces a lack of major, first-tier domestic economic data in the coming week and, given that last week’s full calendar saw AUD/USD appreciably lower, it might be reasonable to assume that a sparser calendar might bring some reprieve.

Yuan May Extend Losses Amid Weak Fundamentals, US-China Tariff Battles

This week, the USD/CNH broke above a long-term downtrend held since the mid of 2017, indicating a reversal in a longer time frame; the Yuan also lost against the EUR, JPY, GBP and CHF. Looking forward, the USD/CNH will likely continue the bullish trend (bearish for the Yuan); volatility in the pair is expected to elevate as the US and China have resumed tariff battles despite of rounds of negotiations.

Gold Prices Take 2% Hit, Break Impasse with Fresh 2018 Lows

Gold prices are taking a hit as we move towards the close of this week, currently down -1.89% so far on the day and -2.35% from the high set just ahead of yesterday’s ECB rate decision. While Gold prices held support fairly well through the Fed’s rate hike on Wednesday, the ECB meeting the following morning produced considerable US Dollar strength as the ECB announced stimulus-taper in a very dovish manner.

Oil Prices to Leak Lower as OPEC Look to Switch On Supply Taps

OPEC’s 174th ordinary meeting is set to take place on June 22nd with the JMMC scheduled to meet the day before, while OPEC/non-OPEC ministers are due to meet on the 23rd. As we head to the meeting, expectations are for a relaxing of the current oil supply quota’s, which has been increasingly suggested by oil kingpins Saudi Arabia and Russia that the supply switch has been turned on.

S&P 500, DAX & FTSE - Fed and ECB Over With, BoE Next

Last week, the Fed raised rates on Wednesday by the expected 25-bps and indicated another two rate hikes this year, also in line with expectations. Looking ahead to next week, there aren’t any ‘high’ impact data events on the calendar.

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

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