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  • What's the difference between leading and lagging indicators? Find out from @RichardSnowFX here:https://t.co/vGx8HCagF5 https://t.co/j8PEFYbEqr
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  • The $USD may return to the offensive as markets flee to cash amid fears of deep global recession thanks to the still-raging #coronavirus outbreak. Get your US Dollar update from @IlyaSpivak here: https://t.co/g1us4ZbYR5 https://t.co/detT6m6ZKo
  • The #Dow Jones, S&P 500 and #DAX 30 have bounced after aggressive declines. Can this momentum last? Trader positioning seems to be offering mixed signals as technicals point bearish. Get your market update from @ddubrovskyFX here:https://t.co/DdCUyoGSmL https://t.co/NQtbwy5Brg
  • Reports that London-based fund managers have discussed long market closures with the Bank of England are unlikely to bear fruit, but that they happened at all may boost already-crowded haven trades. Get your EUR/CHF market update from @DavidCottleFX here:https://t.co/mernf5MDH3 https://t.co/1rzQT6ClCY
  • $AUD chart positioning suggests prices have set a swing top near the 0.62 figure. Re-engaging the long-term downtrend against $USD may follow. Get your AUD/USD market update from @IlyaSpivak here:https://t.co/OIEDlId6HZ https://t.co/CzqJf3wsgh
  • The $USD could be on the verge of regaining upside momentum against ASEAN FX such as the Singapore Dollar, Indonesian Rupiah and Malaysian Ringgit. Will the Philippine Peso follow? Find out from @ddubrovskyFX here:https://t.co/cBzPejcNHu https://t.co/4fcImOiSzD
  • $NZD chart positioning suggests the downtrend against its US namesake may be resuming but trader sentiment studies flash warning sign for sellers.Get your NZD/USD market update from @IlyaSpivak here:https://t.co/NUHD43A8C9 https://t.co/K7l3Ju0GP0
  • The Federal Reserve has made a powerful statement about its commitment to shoring up offshore $USD funding markets through the #coronavirus spread. Get your market update from @DavidCottleFX here:https://t.co/fLZjxjr4L9 https://t.co/UdRor0d92U
  • The #Euro has dropped through support guiding it higher from late-March lows, suggesting that the end of a corrective rebound has given way to downtrend resumption. Get your $EURUSD market update from @IlyaSpivak here: https://t.co/gpKowYNmGi https://t.co/CY7RuZf91s
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USD, EUR, GBP AUD, Gold, Oil, Dow Jones & More - Weekly Forecasts as Coronavirus Grips Markets

The US dollar ripped to a 3-year high before pivoting lower as supply chain disruptions, largely due to the coronavirus outbreak, pushed business activity to a 76-month low.

Amid the deterioration in sentiment and rise in recession risk, spot gold prices spiked to a 7-year high while the stock market retreated from its record.

Meanwhile, a broader selloff in risk assets like crude oil and the Australian Dollar pushed the commodity and major currency pair markedly lower.

The coronavirus outbreak and it’s corresponding impact on global GDP growth outlook will likely linger as a key theme to watch over the coming trading sessions.

Take a look at the fundamental and technical forecasts below for detailed insight on what our analysts are expecting across the global market next week.

Fundamental Forecasts:

Gold Forecast: Bullion Bid on Recession Risk, Inverted Yield Curve

Gold might extend its advance – even after climbing to its highest level in seven years – as an inverted yield curve rekindles recession fears amid the ongoing coronavirus outbreak.

Euro Weekly Outlook: No Sign Yet of a Significant Rally

EUR/USD has been weakening since the start of 2020 and the decline has accelerated this month. At some point there will be a correction but further losses are still likely as the year progresses.

Crude Oil Torn Between Iran Election, Coronavirus and G20 Summit

Crude oil prices may rise on supply-disruption fears after the outcome of the Iran election, but infected sentiment from coronavirus fears may derail Brent’s recovery ahead of the G20 summit.

Australian Dollar Data Drought Leaves Virus Headlines in Charge

The Australian Dollar remains severely weighed down by coronavirus worries and a lack of domestic data points will probably keep that story in the driving seat.

Dow Jones, Nasdaq 100, DAX 30, Nikkei 225 Forecasts for the Week Ahead

Last week saw stocks unravel as some of the globe’s major economies stumbled and coronavirus concerns rampaged. Will stocks continue lower in the week ahead?

USD/MXN Outlook: Growth to Return to Mexico in 2020

The Mexican economy contracted for the first time in almost 10 years in 2019, but growth is expected to pick up in 2020 according to its finance minister.

USD Weekly Price Forecast: The US Dollar's Attraction Remains Strong

The status of the US dollar as the safe-haven asset of choice remains untouched and any weakness in the greenback is likely to be short-lived.

Technical Forecasts:

Canadian Dollar Price Outlook: USD/CAD Losses Steepen- Loonie Levels

USD/CAD is weaker for a second week with the Canadian Dollar building on the recent price reversal. Here are the levels that matter on the Loonie weekly technical chart.

FTSE 100 & DAX 30 Technical Forecast for the Week Ahead

FTSE 100 testing key support as the index lacks a directional bias. DAX reverses off channel top.

Gold Price Technical Forecast Bullish as XAU/USD Targets 2013 High

Gold prices soared towards the 2013 high in the best week since June 2019. The medium-term XAU/USD technical outlook is bullish. The week ahead will be scrutinized for signs of a top.

British Pound Technical Forecast: GBP/USD, EUR/GBP, GBP/JPY, GBP/CHF

A number of macro items took attention away from the British Pound, but the backdrop appears set for potential in EUR/GBP, GBP/JPY and perhaps even GBP/CHF.

USD Forecast: Bullish Price Action to Persist Amid Extreme RSI Reading

The Relative Strength Index (RSI) undermines the recent rebound in GBP/USD as the indicator continues to track the bearish trend carried over from December.

Chart of Currency Performance US Dollar

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

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