US Dollar Forecast – US Dollar Traders Link Long-Term Trend to Key NFPs Release
The Dow Jones FXCM Dollar Index (ticker = USDollar) dropped 1.2 percent this past week – the sixth drop in seven weeks.
Euro Forecast – Euro Gaining versus Dollar but Struggling Elsewhere amid Middling Data
The Euro failed to capitalize on bolstered risk flows thanks to a medium-term resolution to the US fiscal deadlock, although it did manage to make significant progress towards its yearly highs ($1.3710 on February 1) against the US Dollar by the end of the week ($1.3704 on October 18).
British Pound Forecast -British Pound Looks Dangerously Overstretched – How do We Trade
The British Pound surged versus the downtrodden US Dollar and yet finished just short of year-to-date peaks.
Japanese Yen Forecast – Japanese Yen Strength to Be Undermined by Slowing Inflation
The Japanese Yen regained its footing against the dollar, with the USDJPY slipping back below the 98.00 handle, and the pair may continue to give back the rebound from earlier this month as it carves a lower high just below the 99.00 region.
Gold Forecast – Gold Eyes Monthly High Ahead of NFPs as Bearish Momentum Falters
Gold prices rallied 3.24% this week with the precious metal trading at $1313 ahead of the New York close on Friday. The advance comes amid a rally in broader equity markets with the S&P making fresh record highs while a substantial sell-off in the greenback was further exacerbated as the government shut-down pushed out expectations for a Fed tapper this year. Subsequently, gold rebounded off key support at $1268 with the rally breaching a medium-term technical formation.
Australian Dollar Forecast – Australian Dollar Braces for Impact as US Data Backlog Emerges
We’ve argued in favor of a significant Australian Dollar recovery since early August.
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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
