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Markets Week Ahead: S&P 500, British Pound, Brexit Woes, US Dollar, Fed

Markets Week Ahead: S&P 500, British Pound, Brexit Woes, US Dollar, Fed

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Global stock markets extended losses this past week as volatility cautiously picked up pace. This has brought the worst 2-week performance in US equities, such as the S&P 500 and tech-heavy Nasdaq 100, since earlier this year. Demand for safety helped boost haven-oriented currencies such as the US Dollar and Japanese Yen. Growth-linked crude oil prices also suffered.

Prolonging weakness in stocks may have been a combination of rising US-China tensions as President Donald Trump touted a ‘decoupling’ from the world’s second-largest economy. Concerns about lofty valuations in information technology stocks could have also played a role. Meanwhile, the British Pound suffered its worst week in months on rising no-deal Brexit bets.

With investors seemingly becoming increasingly cautious, all eyes turn to the Federal Reserve this coming week. The focus will likely be on its forward guidance and the latest assessment on economic conditions. Its balance sheet hasn’t materially shifted since early July, perhaps leaving markets yearning for further liquidity.

The Bank of England and Bank of Japan are also on tap for the British Pound and JPY respectively. Will a jobs report bring volatility to the Australian Dollar? There also remains a divergence between the recovery in US equities and a lack of in consumer confidence. All eyes at the end of the week shift to the latest University of Michigan sentiment. What else is in store for financial markets?

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Fundamental Forecasts:

Euro Forecast: EUR/USD Set Fair to Reach Highest Levels Since Spring 2018

If ECB President Christine Lagarde was hoping to curb the strength of EUR/USD last week, she failed. Instead, the pair is now well placed to reach new two-year highs above 1.20.

Oil Price Approaches June Low Ahead of OPEC JMMC Meeting

The price of oil approaches the June low ($34.27) ahead of the OPEC’s September meeting as US crude inventories unexpectedly increase for the first time since July.

Nasdaq 100 Price Forecast: Fundamental Elements Remain Upbeat

The Nasdaq 100 index has retraced over 9% from its all-time high as profit-taking activities ramped up amid US-China tensions. Fundamental elements, however, tell a different story.

USD/MXN Week Ahead: FOMC Tailwinds Could Lead to Volatile Trading

The Mexican Peso continues to outshine the Dollar, but USD/MXN is still 14% higher than the beginning of the year

US Dollar Weekly Forecast: ECB Avoiding a Currency War, Eyes on Fed's New Mandate

All eyes on the Fed as they update guidance to fit their new mandate. While the ECB want to avoid a currency war.

Australian Dollar May Fall on Jobs Data, Economic Plateauing, China Tension

The Australian Dollar may pull back as domestic economic activity and local inflation prospects plateau as geopolitical tension with China heats up.

Gold Price Outlook: FOMC Rate Decision May Ignite XAU/USD Uptrend

Gold prices may turn higher ahead of the upcoming FOMC rate decision, despite plateauing inflation expectations and a lack of progress in Congressional stimulus talks.

Technical Forecasts:

New Zealand Dollar Weekly Outlook - Mid-Range, Mixed Signals and Sentiment

The Kiwi dollar continues its short-term sell-off and may look to test the multi-week low. Next week’s Q2 GDP release may prompt a move.

Gold Price Outlook: XAU/USD Breakout to Offer Guidance as Range Coils

Gold prices are higher this week with XAU/USD continuing to contract within the August range. Here are technical trade levels that matter on weekly chart.

Pound Technical Outlook: GBP/USD in for Another Bumpy Week

The GBP/USD is in for another interesting week as Brexit intensifies; in a precarious position technically.

Japanese Yen Price Forecast: USD/JPY, GBP/JPY, EUR/JPY, CAD/JPY

The Japanese Yen is eyeing a chart pattern against the US Dollar as it could extend gains against the British Pound. What is also in store for EUR/JPY and CAD/JPY in the week ahead?

US Dollar Technical Forecast: USD Bounce in Focus Ahead of FOMC

It was another week of gains for the Greenback – but next week brings the Fed.

Nasdaq 100, Dow Jones, DAX 30, FTSE 100 Forecasts for the Week Ahead

Equity markets experienced further turbulence last week as volatility picks up in accordance with the change in seasons. With key technical formations under threat, where are stocks headed next week?


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