Weekly Trading Forecast: Watch Dow and EURUSD as G20 Approaches Amid Risk Resurgence
Sterling traders will be nervously eyeing UK GDP and the G-20 summit after the BoE sent a chilling message about their outlook for Brexit and growth risks.
Fresh data prints coming out of the US economy may do little to heighten the appeal of the Dollar as the Federal Reserve alters the forward guidance for monetary policy.
The Australian Dollar still lacks interest rate support of its own but a Fed-inspired revival in risk appetite could see it make further gains, albeit within its dominant downtrend.
Gold (XAU) bulls have had a storming week with the precious metal up nearly $80 at one stage this week, touching levels last seen in September 2013. And with technical resistance breaking down, higher prices are a distinct possibility.
Crude oil prices are eyeing a critical G20 summit where the US and China are expected to resume trade negotiations. Building tensions with Iran are a wildcard.
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