The BoJ refreshed the global central bank discussion this past week after announcing negative rates. And, risk-oriented markets gained as they have in years past. Is this a return to familiar trends or a false dawn?
US Dollar Forecast – Dollar Hits a 12-Year High, But Can NFPs and Sentiment Maintain Lift?
The USDollar closed at a fresh 12-year high this past week. Yet, the occasion of breaching such exceptional heights has repeatedly disappointed over the past year.
British Pound Forecast – GBP/USD to Rebound to Succumb to Dovish BOE, Upbeat NFP Report
The Bank of England (BoE) interest rate decision is likely to heavily impact the British Pound next week with the central bank schedule to release its updated forecasts, and the near-term rebound in GBP/USD may continue to unravel should the Monetary Policy Committee (MPC) show a greater willingness to further delay the normalization cycle.
Japanese Yen Forecast – BoJ Makes Stealth Move to Negative Rates, Pressure on to China
Confidence is a pretty important thing in a financial system. After all, in a fiat-based monetary system, all that we really have is faith.
Australian Dollar Forecast –
Canadian Dollar Forecast – CAD Rally Stalls After Reversing Longest Losing Streak Since 1971
Steven Poloz’s refrain of a Bank of Canada rate cut that had become the preferred bet as the Loonie dropped brought a magnificent reversal for the CAD.
Chinese Yuan Forecast – Chinese Yuan Remains Stable Despite of BOJ Decision
The yuan offshore rate (CNH) moved little against the dollar this week, closing with a slightly bearish position on Friday.
Gold Forecast – Gold Boosted by Softer Fed Stance – Resistance at 1130
Gold prices are higher this week with the precious metal rallying nearly 1.8% to trade at 1117 ahead of the New York close on Friday.
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Source: Daily fx
