Weekly Trading Forecast: Financial Markets Shudder after US-Turkey Tensions Deteriorate
View our economic calendar to see the events that might influence each currency this week.
Haven demand lifted the US Dollar amid turmoil in emerging markets. Bond sale results and TIC data may complicate matters next week.
The Euro may not have been the worst performing major currency, but it had a terrible end to last week as fresh concerns emerged on its eastern front in the form of the plunging Turkish Lira.
The latest look at UK employment, wages and inflation data is likely to underpin Sterling at its current multi-month lows. However, the fate of GBPUSD may still lie in the hands of a rampant US dollar.
The Australian Dollar remains under considerable fundamental pressure but it may not be enough to blow away a persistent trading band.
USD/JPY stands at risk, extending the decline from earlier this month as the exchange rate carves a series of lower highs and lows.
China’s Central Bank indicates that it could calm the Yuan further; at the same time, the Petro-Yuan price jumped and arbitrage opportunities have increased.
Global stocks showed pull backs to varying degrees this week as the economic situation around Turkey sparked fears of contagion in Europe.
Gold is lower for the fifth consecutive week but prices continue to hold just above key support. These are the updated targets & invalidation levels that matter next week.
The IEA walked back fears of a potential shortage as new supply comes online only to be overcome by concern that Trade Wars could limit economic activity and demand for energy.
View our Third Quarter Forecast for currencies, commodities, and equities to give a broader view of trends and sentiment influencing different assets.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.