Category: Weekly Forex Forecasts

Forex Weekly Outlook December 1-5

US ISM Manufacturing PMI, Rate decision in Australia, the UK and the Eurozone, Important employment events in Canada and the US including the important NFP release. These are Forex Market Movers This Week. Check out these events on our weekly outlook.

Last week, US data showed mixed results. Durable goods orders advanced unexpectedly 0.4% but missed on the core, posting 0.9% decline. Jobless claims disappointed crossing the 300,000 line for the first time in nearly three months with a 21,000 jump to 313,000. New Home Sales rose for the third straight month to a seasonally adjusted annual rate of 458,000 units but missed forecast for a higher gain of 471,000 units. Nevertheless, the second GDP release came out better than the first estimate, showing a 3.9% growth rate in the third quarter reflecting upward revisions to business and consumer spending, as well as to inventories. Due to the flood of US economic data released at once before Thanksgiving, volatility tends to be higher. Will the US data continue to show resilience?

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GBP/USD Forecast Nov. 24-28

GBP/USD Forecast Nov. 24-28

The British pound managed to hold its own against the dollar last week, showing slight losses. The pair closed at 1.5627. This week’s key events are the Inflation Report Hearings and Second Estimate GDP. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD. British CPI remained steady at 1.3%, while Retail Sales posted an excellent gain

USD/JPY Forecast Nov. 24-28

USD/JPY Forecast Nov. 24-28

The wobbly yen continues to lose ground, as USD/JPY climbed close to 100 points last week. The pair closed at 117.72. This upcoming week has six events. Here is an outlook on the major events moving the yen and an updated technical analysis for USD/JPY. Japanese GDP was unexpectedly low at -0.4%, as the Japanese economy officially entered a recession. This weighed

USD/CAD Forecast Nov. 24-28

USD/CAD Forecast Nov. 24-28

The Canadian dollar showed some movement in both directions but was little changed at week’s end. USD/CAD posted slight losses, closing the week at 1.1231. This week’s highlights are Retail Sales and GDP. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD. Canadian Wholesale Sales impressed with a sharp gain in September.

AUD/USD Forecast Nov. 24-28

AUD/USD Forecast Nov. 24-28

AUD/USD headed to lower ground last week, losing close to 100 points. The pair closed at 0.8659. This week’s highlight is Private Capital Expenditure. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD. An unexpected Chinese rate cut gave the Aussie a brief lift, but the currency still lost ground against

NZD/USD Forecast Nov. 24-28

NZD/USD Forecast Nov. 24-28

The New Zealand dollar struggled to continue advancing, as contradicting data kept it abay. What’s the next move? Trade balance and business confidence are the main events. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. The retail sales report was quite encouraging: the volume of sales grew by 1.5% in Q3, around

EUR/USD Forecast Nov. 24-28

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

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