US Dollar Prepares for Impact of NFPs Release, S&P 500 Breakout
Over the past weeks, the dollar has generated little strength from its safe haven status while its yield buoyancy following the FOMC’s third Taper lost traction. In periods of complacency and moderation, the greenback is at risk of retracing event-driven short-term gains – just like volatility has quickly deflated swell after swell.
British Pound Lining up for Significant Turn – What Could Warn Us?
The British Pound finally showed signs of life as it finished the week at its longest-consecutive daily rally in two months. Yet the Sterling remains below important price levels, and a number of technical factors favor GBP weakness into a big week for forex markets.
USD/JPY at Risk for Key Break- U.S. NFPs, Japan’s VAT in Focus
Japan’s consumer-tax hike, which takes effect April 2014, certainly clouds the fundamental outlook for the Japanese Yen, while the technical formations highlight the risk for a major move as the USD/JPY remains stuck in the wedge/triangle from the beginning of the year.
Gold Primed to Rip or Dip Ahead of Key Event Risk- $1268 Key Support
Gold was sharply lower with the precious metal off by more than 3% for the second consecutive week to trade at $1293 ahead of the New York close on Friday. The losses have persisted despite continued weakness in the greenback with the Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) closing the week just above key support at 10,500.
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Source: Daily fx
