Forex Trading Weekly Forecast - 08.01.11
Forex Weekly Trading Forecast - 07.30.11
-Euro’s Sovereign Debt Crisis Simmering Behind US Deficit Headlines
-Japanese Yen to Consolidate as Speculation for Intervention Resurface
-British Pound Hinges on Commentary Following Rate Decision
-Canadian Dollar To Rally On Higher Employment, Business Spending
-Australian Dollar to Fall as Sentiment Sours, Rates Outlook Fades
-New Zealand Dollar Rally Threatened By Slowing Employment
-Gold Likely Higher as Debt Ceiling Deadline Looms
Dollar’s Week Starts with a Potential Fiscal Crisis, Ends with NFPs
The dollar and underlying risk trends ended the week under extraordinary duress – as they should. The deficit impasse that the markets have been ringing their hands over for the past few weeks is now heading into the final stretch with two days of market down-time to shorten the trading calendar.
Forex Trading Weekly Forecast - 07.31.11
-US Dollar Could Fall Further on Debt Ceiling Impasse, Nonfarm Payrolls
-Euro’s Sovereign Debt Crisis Simmering Behind US Deficit Headlines
-Japanese Yen to Consolidate as Speculation for Intervention Resurface
-British Pound Hinges on Commentary Following Rate Decision
-Canadian Dollar To Rally On Higher Employment, Business Spending
-Australian Dollar to Fall as Sentiment Sours, Rates Outlook Fades
-New Zealand Dollar Rally Threatened By Slowing Employment
-Gold Likely Higher as Debt Ceiling Deadline Looms
Gold Likely Higher as Debt Ceiling Deadline Looms
As noted last week by Currency Analyst David Song, “the short-term correction in gold is likely to be short-lived, and the bullion should resume its upward trend as prices end the week above $1600 per ounce. In turn, buying dips may turn out to be a favorable strategy amongst market participants, and we are likely to see fresh record-high prices for the precious metal as it benefits from safe-haven flows.” Such appeared to hold true, with the precious metal gaining 1.61 percent over the past week against the U.S. Dollar. Similarly, bullion was also bid higher against the British Pound and the Euro, while losing ground against the New Zealand Dollar and the Swiss Franc. As such, Gold is only lower in Franc-terms in 2011.
