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US Dollar Forecast: US Dollar May Recover as Fed Speeches Reiterate Rate Hike Intent The US Dollar may recover after suffering its largest weekly loss in nearly five months as Fed officials reiterate their intention to continue raising rates this year. British Pound Forecast: CPI the Focal Point as a Shift Begins to Emerge Within the BoE The Bank of England hosted an interesting rate decision this week. No changes were made, ...
Gold prices are rebounding, as the US Dollar declines on NFP data. Expectations for today’s NFP (Non-Farm Payrolls) event were set at 200k, and released better than expected at 235k. Also, January’s high was revised upwards from 227k to 238k. Technically, gold prices have found support after declining to a 76.4% Fibonacci retracement level found near $1,200.00. This line has been calculated by measuring the distance between the January ...
Crude oil prices continue to trade off of yearly highs, but have failed to breakout significantly for the 2017 trading year. As such, traders continue to wait for a market catalyst to cause the commodity to breach key values of either support or resistance. Key news for this week includes the release of US employment data this Friday. Expectations for US NFP (Feb) is set at +190k, while the US Unemployment Rate is set to be released at 4.7%. ...
US Dollar Forecast: Dollar Fully Primed for March Fed Hike Leses its Motivation? The Dollar’s posture heading into the new week is bullish on the back of a remarkably decisive outlook for a Fed hike at the next official FOMC meeting. Japanese Yen Forecast: USD/JPY Carves Bullish Series Ahead of NFP on Hawkish Fed Rhetoric USD/JPY may continue to retrace the decline from earlier this year as a growing number of Fed officials ...
The AUD/USD is trading into key values of support, as the pair has fallen as much as 199 pips from the standing yearly high at .7741. This decline has come mostly on the back of recent US Dollar strength, and now the market is waiting for Fed Chair Janet Yell to make her most recent statements in Chicago later today. Technically the AUD/USD is trending lower in the short term, trading well below its 10 day EMA (exponential moving average), ...
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