US Dollar On the Verge of Serious Reversal – But Can it Make the Turn?
It was a week of contrasts. Through Friday’s close, the S&P 500 surged to a record high. Yet, at the same time as this ‘risk’ benchmark made its move higher, the traditional safe haven US Dollar strong-armed a bullish reversal.
USD/JPY Bearish Setup to Take Shape on Japan CPI, Dismal U.S. 1Q GDP
The USD/JPY pared the decline following the Bank of Japan (BoJ) interest rate decision, with the pair working its way back towards former support (101.80-102.00), but the economic developments due out next week may instill a more bearish outlook for the dollar-yen should the data prints spark a greater deviation in the policy outlook.
Gold Breakout Imminent – Will US GDP Be the Trigger?
Gold prices are virtually unchanged on the week with prices off by a mere 0.1% to trade at $1291 ahead of the New York close on Friday.
Australia Dollar Vulnerable to Deeper Losses on Fed Policy Bets
The Australian Dollar is expected to continue lower after dropping the most in four months last week as markets come to terms with the looming end of Fed QE
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Source: Daily fx
