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Markets Week Ahead: Nasdaq 100, US Dollar, AUD/USD, RBA, GBP/USD, BoE

Markets Week Ahead: Nasdaq 100, US Dollar, AUD/USD, RBA, GBP/USD, BoE

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Market sentiment mostly improved this past week as all eyes were on the tech-heavy Nasdaq Composite as it soared about 3.7%. Earnings from Facebook, Amazon, Apple and Google – part of the FAANG group – smashed expectations. The Dow Jones Industrial Average was left behind, ending the week -0.16% as the S&P 500 rose +1.73%. The haven-linked US Dollar sank further.

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Meanwhile the Federal Reserve left interest rates unchanged at near-zero levels with aggressive measures of unconventional stimulus to remain in place for the foreseeable future. A combination of these developments may have kept markets jubilant despite what has been rising cases of the coronavirus and deaths around the world. The government ended the week without a stimulus deal.

Earnings season remains in play as certain financial, automotive, energy, media, healthcare and other businesses report. From developed nations, the Reserve Bank of Australia and Bank of England will have their next monetary policy announcements ahead. But the focus for the Australian Dollar and British Pound may be elsewhere with central banks in a dovish hold for now.

At the end of the week, all eyes will turn to the next jobs report from the world’s largest economy to continue gauging overall growth expectations. The Canadian and New Zealand Dollars will also have to contend with local jobs data. Lately, precious metals – such as gold and silver – have been rallying aggressively. Will these trends continue?

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Fundamental Forecasts:

Australian Dollar Outlook Hinges on Covid-19 Cases Ahead of RBA Rate Decision

The Australian Dollar looks set to extend gains against its major counterparts ahead of the RBA interest rate decision

USD/MXN Week Ahead: choppy price action to continue

Dollar weakness undermines USD/MXN performance as coronavirus cases continue to spook the market

Gold Price Weekly Outlook: Consolidating Near Record Highs

US Treasury real yields currently trade at, or close to, a record low, boosting the attraction of gold and underpinning any potential move lower.

USD Outlook Bearish on Earnings Data, Stimulus Talks, Accommodative Fed

The US Dollar may extend its losses as demand for the haven-linked asset dwindles amid strong corporate earnings from large-cap firms and uninterrupted support from the Fed.

Crude Oil Price Outlook Eyes OPEC Output Restart, US and China Demand

Crude oil prices may be torn between rising demand from the US and China as OPEC+ begins restoring output. Will the non-farm payrolls report give more life to WTI and Brent?

Nasdaq 100, DAX 30 & ASX 200 Forecasts for the Week Ahead

As the peak of earnings season fades into the rearview, equity markets will shift their focus back to more traditional economic data and possible election uncertainty in the United States.

Euro Forecast: EUR/USD Outlook Still Bright After Six Weeks of Gains

EUR/USD has now gained ground for six successive weeks, taking it back to levels last seen in 2018, and there is still no sign of its advance tiring.

Technical Forecasts:

Gold Price Forecast: Has Bullion Hit Resistance?

The extreme reading in the Relative Strength Index (RSI) may be accompanied by higher gold prices like the behavior seen earlier this year.

Euro Technical Outlook: EUR/USD Breakout Marks Week Six- Rally at Risk

The Euro rally is poised to mark a sixth week with the advance now testing critical technical resistance. Here are the levels that matter on the EUR/USD weekly chart.

S&P 500, FTSE 100 Technical Forecast For Next Week

S&P 500 edging towards critical support, FTSE 100 makes bearish break heading into an seasonally unkind month

Japanese Yen Forecast: Can USD/JPY Get Out of Its Own Way?

USD/JPY rose sharply on Friday, but there are doubts as to whether it is a sustainable move.

British Pound Price Forecast: GBP/USD, GBP/JPY, EUR/GBP, GBP/CAD

It was a strong week for Sterling – but can it keep it up? GBP/USD and GBP/CAD put in explosive moves while GBP/JPY and EUR/GBP stare down significant obstacles on the chart.


Currency vs USD Performance

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