US Dollar Forecast – US Dollar Tumbles on Disappointing NFPs, but is Reaction Overdone?
A sharply disappointing US Nonfarm Payrolls report left the US Dollar lower against the Euro and broader major forex counterparts, but was the reaction overdone?
Euro Forecast – Rally in European Stocks, Bonds Give False Sense of Security
The euro ended this past week little changed as key event risk failed to stir deeper fundamental waters.
Gold Forecast – Gold Supported by Dismal NFPs- $1270 in Focus Ahead of CPI
Gold prices were modestly firmer this week with the precious metal rallying 0.67% to trade at $1244 ahead of the New York close on Friday.
Japanese Yen Forecast – Japanese Yen Poised for Larger Correction- Looking for Higher Low
The USDJPY looks poised for a larger pullback as it fails to maintain the bullish trend from back in October, and the pair may ultimately probe below the 102.00 handle as the dismal Non-Farm Payrolls report dampens the outlook for the dollar.
Australian Dollar Forecast – Australian Dollar to Rise Further as Markets Ponder Fed Outlook
We’ve argued that the Australian Dollar has room to correct higher in early 2014 as the fundamental argument for Aussie weakness becomes increasingly flimsy while speculative traders remain heavily net-short (per futures market positioning data from the CFTC).
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Written by the DailyFX Research Team. To sign up for a weekly e-mail with our currency outlooks, go to our page for forex news delivered to your inbox.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.Learn forex trading with a free practice account and trading charts from FXCM.
Source: Daily fx
