Category: Weekly Forex Forecasts

EUR/USD Forecast Nov. 24-28

EUR/USD traded in range for some time, but eventually lost ground and closed under 1.24. Can it extend its falls?The main events this week are the preliminary inflation releases, employment data as well as another German business survey. Here is an outlook on the highlights of this week and an updated technical analysis for EUR/USD.

After long months of falls, Germany’s ZEW business confidence finally bounced back as investors returned to optimism. However, fresh purchasing managers’ indices disappointed. Germany’s flat manufacturing PMI was especially worrying. The final blow came from ECB president Draghi: he not only hinted about QE, but showed determination to act fast on battling the specter of deflation. This second speech of his was not challenged by the Germans, and the euro was hit hard. In the US, the FOMC meeting minutes revealed that the Fed is somewhat worried about inflation expectations and widely agreed on leaving the “considerable time” phrase regarding rates. However, the global slowdown has little impact on the US according to the officials, Encouraging data from inflation, home sales and manufacturing did little to help the greenback.

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Forex Weekly Outlook November 24-28

Forex Weekly Outlook November 24-28

The dollar strengthened quite nicely, with the exception of the loonie, as the US economy and the Fed remain firmly on track. Euro-zone inflation data, US, UK and Canadian GDP data, US Durable Goods Orders,  and housing data are the most important economic releases in the last week of the month. Here is an outlook on

AUD/USD Forecast Nov. 17-21

AUD/USD Forecast Nov. 17-21

AUD/USD bounced back last week, gaining close to 100 points. The pair closed at 0.8736. This week has six events, led by the RBA minutes. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD. US job numbers were not as strong as the markets had expected. Unemployment claims missed expectations and JOLTS softened. Still, there was

GBP/USD Forecast Nov. 17-21

GBP/USD Forecast Nov. 17-21

The British pound lost over 200 points last week, closing at 1.5658. This is the GBP/USD’s lowest level since September 2013. This week’s key events are Retail Sales and Preliminary GDP. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD. US employment numbers disappointed last week, as jobless claims missed expectations

USD/JPY Forecast Nov. 17-21

USD/JPY Forecast Nov. 17-21

The US dollar continues to hammer the yen, as USD/JPY jumped about 160 points last week. The yen is in free-fall, having lost a staggering 900 points in the past three weeks. This week’s highlights are Preliminary GDP and the BoJ Monetary Policy Statement. Here is an outlook on the major events moving the yen and an updated technical

NZD/USD Forecast Nov. 17-21

NZD/USD Forecast Nov. 17-21

The New Zealand dollar had a positive week, climbing back up. Is 0.80 within sight? The main event is the release of the quarterly retail sales report. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. The Business NZ Manufacturing Index is on the rise, and at 59.3 points it reflects strong growth. Also

USD/CAD Forecast Nov. 17-21

USD/CAD Forecast Nov. 17-21

The Canadian dollar posted modest gains last week, as USD/CAD closed the week at 1.1286. This week’s highlights are Wholesale Sales and Core CPI. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD. US employment numbers were not impressive last week, as jobless claims missed expectations and JOLTS softened. Still, there was a silver

EUR/USD Forecast Nov. 17-21

EUR/USD Forecast Nov. 17-21

EUR/USD traded well within known ranges, supported by some news of growth. A busy week awaits us with an important German survey, PMIs and speeches from Draghi,  Here is an outlook on the highlights of this week and an updated technical analysis for EUR/USD. Germany managed to escape recession with a marginal growth rate of 0.1%. Is it

Forex Weekly Outlook Nov. 17-21

Forex Weekly Outlook Nov. 17-21

The US dollar had a mixed week, ending higher against the yen and the pound while retreating against the euro and mostly against commodity currencies. Mario Draghi’s speeches, UK inflation data, rate decisions in Japan, and the FOMC Meeting Minutes, as well as inflation and employment data. These are the major events on FX calendar. Here

GBP/USD Forecast November 10-14

GBP/USD Forecast November 10-14

The British pound continues to slide, as GBP/USD lost about 100 points for a second straight week. The pair closed at 1.5861, its lowest weekly close since September 2013. This week’s major events are Claimant Count Change and the BoE Inflation Report. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD. US Nonfarm Payrolls