Weekly Trading Forecast: US And China Raise The Trade War Stakes To Compete With Apple, Brexit And Rate Decisions
US Dollar Forecast - US Dollar May Retreat as Rally Struggles to Find Fresh Fodder
The US Dollar may turn back after four consecutive weeks on the upside as the rally runs out of fresh catalysts to inspire continued near-term progress.
British Pound Forecast – GBP:UK Q2 GDP and Brexit to Drive Sterling Next Week
With the expected 0.25% UK rate hike now in the rear mirror, Sterling traders will be at the whim of Brexit headlines and noise and next week’s GDP release as we enter the holiday period.
Australian Dollar Forecast - AUD May Consolidate Again on RBA, RBNZ, US CPI and Trade War Risk
The Australian Dollar may remain range bound on a status quo RBA, relatively dovish RBNZ, US CPI data and the persistent risk of trade wars for equities and the sentiment-linked currency.
Japanese Yen Forecast - USD/JPY Outlook Mired by Lackluster Non-Farm Payrolls (NFP) Report
The Fed interest rate decision on August 1 may influence the near-term outlook for USD/JPY as the central bank appears to be on track to implement higher borrowing-costs.
Canadian Dollar Forecast - USDCAD on Way Back to 1.30, Eyes on GDP
Sentiment surrounding the Canadian Dollar has been somewhat positive with NAFTA concerns easing, while next week’s key risk event will come in the form of the GDP report for May.
China's central bank has stepped in to support the yuan and may continue to calm it. China's trade figures will reveal damages of US-China trade war.
Equity Forecast -S&P 500, DAX & FTSE Outlook Heading into Next Week
Next week won’t be as busy on the economic calendar front, but markets could still be on the move with risk trends.
Oil Forecast - Crude Oil Prices Swing on Supply Concerns; July Support Remains
Crude Oil prices continued to hold the down-trend this week, but a key level of support came into play yet again to help stem the declines. A rise in geopolitical tensions may soon offset the expected increases in supply.
Gold Forecast - Gold Prices Break and Bounce on FOMC, NFP Focus Shifts to Inflation
Gold prices saw fresh yearly lows this week but rebounded off key support late in the session. These are the updated targets & invalidation levels that matter next week.
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