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Weekly Trading Forecast: Fed Testimony and China GDP

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by , 07-16-2018 at 03:34 AM (1006 Views)
      
   
US Dollar Forecast - USD: Trade Wars vs Strong Economic Fundamentals - The Battle Continues
The US dollar should be powering ahead based purely on economic fundamentals but the over-arching threat of global trade wars is reining in the greenback's performance.

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British Pound Forecast - GBP: Strong UK Data may Boost GBP, However, Brexit Overhang Remains
The overhang of Brexit continues to provide an uncertain outlook for the Pound. However, strong UK data could potentially see GBP post marginal gains.

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Australian Dollar Forecast - Australian Dollar Could Be Stuck Between RBA Minutes, Jobs Data
The Australian Dollar's overall backdrop remains pretty bleak for bulls, but AUD/USD seems to have hit durable support and may have suffered enough for the moment.

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Canadian Dollar Forecast - CAD Undermined by US Auto Tariff Threat. Hawkish BoC, So What?
The Canadian Dollar was unable to capitalize on a hawkish BoC amidst trade war concerns. Ahead, the US might impose auto import tariffs and local CPI could miss, undermining CAD.

Japanese Yen Forecast - USD/JPY Forecast: Dollar Strength to Persist on Hawkish Fed Testimony
The Humphrey-Hawkins testimony may influence the near-term outlook for USD/JPY as Fed Chairman Jerome Powell is scheduled to appear before Congress.

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Oil Forecast - Crude Oil Sidesteps Trade War Fears, Inventory Drawdowns Continue
Crude oil has avoided the fate of other commodities that have been hit very hard by trade war fears. A massive drawdown in US crude stockpiles may help the argument of Bulls, but by how much remains unclear.

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Gold Forecast - Gold Prices Flirt with Disaster- Key Support in Focus Ahead of Powell
Gold is once again testing critical support ahead of next weeks Fed testimony- it's make-or-break here. These are the updated targets & invalidation levels that matter.

Equities Forecast - S&P 500, DAX & FTSE - Outlook Shrouded in Uncertainty
The week ahead doesn't hold much in the way of major market moving events on the calendar, but that doesn&rst mean there aren't risks out there; the general outlook is indecisive at the moment.

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