ForeCastle

US Dollar Forecast – A Late Push for the Dollar from Yellen Puts Bulls on Notice
The Dollar spent much of the past week consolidating following a three-week advance, but Yellen’s remarks Friday spurred a rally that put the bulls back on the front foot. We will open the new trading week with the USDollar at a two months high but liquidity curtailed by Monday’s Memorial Day holiday.



British Pound Forecast – Sterling Continues to Strengthen With Brexit Vote a Month Away
We are now less than four weeks from the vote waited upon around-the-world; and that is the decision that UK voters will tackle on June 23rd that will decide the fate of the continued EU-membership for the United Kingdom.



Japanese Yen Forecast – Japanese Yen Likely to Hit Further Lows Unless Key Data Disappoints
The Japanese Yen fell for the fourth-consecutive week against the US Dollar and matched its longest losing streak since the USD/JPY traded above ¥121 through late 2014. Sharp rallies in the US S&P 500 and broader ‘risk’ helped push the JPY lower, but equity markets will be put to the test in what could be a big week ahead for global financial markets.



Australian Dollar Forecast – Aussie Dollar Selling May Continue as RBA vs. Fed Outlooks Diverge
The Australian Dollar fell for a fifth consecutive week, making for the longest losing streak in 10 months. The currency succumbed to both external and domestic headwinds.



Canadian Dollar Forecast – USD/CAD Risks Further Losses on Upbeat Canada GDP, Slowing U.S. NFP
A pickup in the Canadian economy accompanied by slowing job growth in the U.S. may fuel a near-term decline in USD/CAD as the Bank of Canada (BoC) appears to be moving away from its easing cycle, while the Federal Reserve remains in no rush to further normalize monetary policy.



Gold Forecast – Gold prices in Free Fall- Shorts at risk into NFP
Gold prices fell for a fourth consecutive week with the precious metal plummeting more than 2.8% to trade at 1215 ahead of the New York close on Friday.




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