Weekly Trading Forecast: EURUSD Policies Diverge, BoE and ECB Forum on Tap

See how sell traders are positioning in a FX majors, indices, bullion and oil intraday regulating a DailyFX suppositional positioning data on a view page.

US Dollar: Trade Wars, Fed-Speak Line Up as Upside Catalysts

The US Dollar regained ceiling movement final week, as expected. The banking emerged from a week installed with high form eventuality risk with a strongest allege given late April. A hawkish financial process proclamation from a Federal Reserve and a decidedly dovish one from a ECB did many of a work. The latter sank a EUR/USD sell rate, that echoed as broader strength for a US unit.

Japanese Yen May Gain as Focus Shifts Back to Trade War Fear

Looking during an normal opening of a Japanese Yen opposite a vital peers, a banking gifted a flighty week though was on march to finish it mostly small changed. It initial fell as confidence brazen of a Trump/Kim limit carried sentiment. However, it found itself rising in a issue of a Fed and ECB rate decisions after on.

Australian Dollar Faces Calmer Week, But That May Not Save It

The Australian Dollar faces a miss of major, first-tier domestic mercantile information in a entrance week and, given that final week’s full calendar saw AUD/USD appreciably lower, it competence be reasonable to assume that a sparser calendar competence pierce some reprieve.

Yuan May Extend Losses Amid Weak Fundamentals, US-China Tariff Battles

This week, a USD/CNH pennyless above a long-term downtrend hold given a midst of 2017, indicating a annulment in a longer time frame; a Yuan also mislaid opposite a EUR, JPY, GBP and CHF. Looking forward, a USD/CNH will approaching continue a bullish trend (bearish for a Yuan); sensitivity in a span is approaching to rouse as a US and China have resumed tariff battles notwithstanding of rounds of negotiations.

Gold Prices Take 2% Hit, Break Impasse with Fresh 2018 Lows

Gold prices are holding a strike as we pierce towards a tighten of this week, now down -1.89% so distant on a day and -2.35% from a high set only brazen of yesterday’s ECB rate decision. While Gold prices hold support sincerely good by a Fed’s rate travel on Wednesday, a ECB assembly a following morning constructed substantial US Dollar strength as a ECB announced stimulus-taper in a really dovish manner.

Oil Prices to Leak Lower as OPEC Look to Switch On Supply Taps

OPEC’s 174th typical assembly is set to take place on Jun 22nd with a JMMC scheduled to accommodate a day before, while OPEC/non-OPEC ministers are due to accommodate on a 23rd. As we conduct to a meeting, expectations are for a relaxing of a stream oil supply quota’s, that has been increasingly suggested by oil kingpins Saudi Arabia and Russia that a supply switch has been incited on.

SP 500, DAX FTSE – Fed and ECB Over With, BoE Next

Last week, a Fed lifted rates on Wednesday by a approaching 25-bps and indicated another dual rate hikes this year, also in line with expectations. Looking brazen to subsequent week, there aren’t any ‘high’ impact information events on a calendar.

About author