Forex Weekly Forecast: All eyes on China on huge week for FX markets
(MENAFN- DailyFX) Big moves out of China catalyzed big declines across global financial markets and all eyes turn to Asian markets as they could set the pace for trading one again in the week ahead.
Euro Forecast - Post-ECB Rally Looking Toppy as Euro Data Continues to Disappoint The first week of the year has brought just the most recent allotment of bad data out of the Euro-zone. British Pound Forecast – British Pound to Lose Further Unless the FTSE 100 Bounces Sharply Another big week for the British Pound left the GBP/USD exchange rate at fresh monthly highs but an even-bigger week ahead warns of major volatility for all US Dollar FX counterparts. Japanese Yen Forecast – USD/JPY Eyes August Low- Widening Surplus to Keep BoJ on Hold? A further deterioration in trader sentiment paired with an improvement in Japan’s Balance of Payments (BoP) may spur increased demand for the Yen and trigger another near-term selloff in USD/JPY as market participants scale back their appetite for risk. Australian Dollar Forecast – Australian Dollar Volatility to Continue on China Jobs Data The Australian Dollar is at risk of deeper losses as Chinese market turmoil continues to drive risk aversion but upbeat jobs data may help cap negativity. Chinese Yuan (CNH) Forecast – Yuan is Heading Lower – How Fast Depends on Next Move in Stocks The yuan rates have broken a lot of records this week. Gold Forecast – Deteriorating Sentiment to Fuel Gold Rebound- Supported Above 1080 Gold prices are sharply higher this week with the precious metal rallying nearly 3.9% to trade at 1102 ahead of the New York close on Friday. Sign up for a free trial of DailyFX-Plus to have access to Trading Q&A's educational webinars updated speculative positioning measures trading signals and much more! What are the Traits of Successful Traders? See what our studies have found to be the most common pitfalls of retail FX traders. DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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