US Dollar Stands to Gain on Rate Forecast, Surge on Risk Trends
Having started out the period with a painful collapse, the US dollar ended this past week with a strong rally that brought it back to even.
Japanese Yen Remains a Sell Until this Changes
The Japanese Yen trades at critical resistance versus the US Dollar (USDJPY trades at support). Given extremely low volatility expectations it seems unlikely we see a major USDJPY breakdown, but any major surprises out of upcoming Japanese data could force sharp currency swings.
Gold Posts Key Outside Reversal Post NFPs- $1307 Key Resistance
Gold prices are softer for the second consecutive week with the precious metal off by nearly 1% to trade at $1287 ahead of the New York close on Friday.
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Source: Daily fx
