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  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/oeAKuToQ5b
  • 🇬🇧 Mortgage Approvals (JUN) Actual: 81.3K Expected: 86.1K Previous: 87.545K https://www.dailyfx.com/economic-calendar#2021-07-29
  • 🇬🇧 Mortgage Lending (JUN) Actual: £17.9B Expected: £7.9B Previous: £6.581B https://www.dailyfx.com/economic-calendar#2021-07-29
  • China will also cancel export tax rebate on iron products - MOFCOM
  • Heads Up:🇬🇧 Mortgage Approvals (JUN) due at 08:30 GMT (15min) Expected: 86.1K Previous: 87.5K https://www.dailyfx.com/economic-calendar#2021-07-29
  • Heads Up:🇬🇧 Mortgage Lending (JUN) due at 08:30 GMT (15min) Expected: £7.9B Previous: £6.6B https://www.dailyfx.com/economic-calendar#2021-07-29
  • China is raise export tariffs on some steel products from August 1st
  • 🇩🇪 Unemployment Rate (JUL) Actual: 5.7% Expected: 5.8% Previous: 5.9% https://www.dailyfx.com/economic-calendar#2021-07-29
  • 🇩🇪 Unemployment Change (JUL) Actual: -91K Expected: -28K Previous: -38K https://www.dailyfx.com/economic-calendar#2021-07-29
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 94.34%, while traders in France 40 are at opposite extremes with 72.28%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/JAiC4NsGWC
Dow Jones & DAX 30 Forecasts for the Week Ahead

Dow Jones & DAX 30 Forecasts for the Week Ahead

Peter Hanks, Strategist

Dow Jones & DAX 30 Forecasts: Neutral

Dow Jones Forecast for the Week Ahead

The Dow Jones has forfeited its leadership position among the US indices as value stocks lose their shine amid slipping US Treasury yields. Rising yields had proved troublesome for technology stocks with stretched valuations, but the pendulum has since swung back in favor of the tech sector which may leave the Dow Jones in a comparatively weak position – a theme already evidenced by its price chart.

Dow Jones Daily Price Chart: Daily Time Frame (January 2020 – June 2021)

Dow Jones & DAX 30 Forecasts for the Week Ahead

While the broader backdrop for equities is encouraging, the Dow Jones appears to be the weakest of the three US indices and could struggle to push higher with added concerns from seasonal trends. That said, the Industrial Average and other indices will likely derive volatility from the coming non-farm payroll report due Friday.

Dow Jones & DAX 30 Forecasts for the Week Ahead

Source: DailyFX economic calendar

Not only should the release spark price action, but it could also provide insight on the taper talk debate that is currently unfolding within the Fed and broader market participant pool. In the meantime, the Dow Jones may await further direction.

DAX 30 Forecast for the Week Ahead

DAX 30 traders will await similar data in the form of German unemployment figures and Euro Area inflation readings. Both data points are vital to the monetary policy discussion in the region and surprises in either direction could shake up price action. With a rather quiet week otherwise, the DAX 30 will likely take its lead from the Nasdaq 100, Dow Jones and S&P 500.

Dow Jones & DAX 30 Forecasts for the Week Ahead

Source: DailyFX economic calendar

--Written by Peter Hanks, Strategist for DailyFX.com

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

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