While Donald Trump says his last words as the US President and Joe Biden brings his oath this week, the CAD, JPY, and EUR will see their Central Banks share their respective monetary strategies. In the meantime, while the USD gets stronger, oil and gold take a pause. So, how do we trade Forex this week?
Weekly Market Outlook: August 5-9
Information is not investment advice
After the rate cut by the Federal Reserve and intensified trade tensions last week, the risk sentiment in the market will be under the main attention. As for the economic calendar, we will see the rate statements by the Antipodean banks. The main question is whether the Reserve bank of New Zealand will cut its rate even more? We will find out on Wednesday. As for now, watch the weekly video by FBS where the Chief market analyst Darya Bobrova explains the main market movers and helps with sorting out your busy trading plans.
The USD recovered from multi-year lows. What are the key levels and targets for EUR/USD, GBP/USD, USD/JPY, AUD/USD, gold, and oil in the coming days? Watch the video to find out!
The review of the last week of the year by FBS
A new threat of a full lockdown in the UK pulled the GBP down, while the euro has been boosted by optimistic PMIs…
Most currencies continued Wednesday's trends after Joe Biden inauguration. Gold went upwards, oil ceded some gains. In this video, we make short-term forecasts and review how accurate our predictions were.
Joe Biden takes the presidency in the US, the Forex market is mostly bullish. We were correct with many of our short-term projections yesterday. Let's see what happens today and what the week brings.