Category: Weekly Forex Forecasts

Forex Weekly Outlook Mar. 2-6

The euro was the loser in week that saw the dollar retreat and make a comeback. The first week of the new month is packed: rate decisions in Australia, Canada, the UK and the euro-zone, GDP data from Canada and Australia and a full buildup to the US Non-Farm Payrolls. These are the main market movers on FX Calendar. Join us as we explore the highlights of this week.

Janet Yellen managed to send mixed signals and was analyzed as dovish. However, was she preparing us for the removal of forward guidance? Her colleague Bullard was quite bullish. US data came out mixed: jobless claims rose to 313,000, and CPI declined 0.7% due to continued slide in oil prices, while Core CPI surprised with a 0.2% rise and maintained a stable 1.6% y/y figure. The latter number trumped the others and allowed the dollar to make a comeback. In the euro-zone, the Greek list was approved and the crisis is off for now. Data has been somewhat upbeat. UK GDP remained supportive of the pound while in Australia, speculation mounts about an RBA cut. We’ll get lots of answers now. Let’s start:

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GBP/USD Forecast Feb. 23-27

GBP/USD Forecast Feb. 23-27

The British pound was unchanged last week, as GBP/USD closed at 1.5382. This week’s highlight is Second Estimate GDP. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD. British inflation levels continues to point downwards, as CPI dipped to just 0.3% in the January report. There was better

USD/JPY Forecast Feb. 23-27

USD/JPY Forecast Feb. 23-27

USD/JPY was unchanged for a second straight week, as the pair closed just below the 119 line. There are seven events this week. Here is an outlook on the major events moving the yen and an updated technical analysis for USD/JPY. Japanese GDP in Q4 posted a respectable gain of 0.6% but this was short

AUD/USD Forecast Feb. 23-27

AUD/USD Forecast Feb. 23-27

The Australian dollar posted modest gains last week, as AUD/USD closed at 0.7836. This week’s key event is Private Capital Expenditure. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD. The RBA minutes reiterated concern about the health of the Australian economy. In the US, the Fed minutes were dovish in

USD/CAD Forecast Feb. 23-27

USD/CAD Forecast Feb. 23-27

The Canadian dollar posted modest losses last week, as USD/CAD closed at 1.2528. This week’s highlight is Core Retail Sales. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD. Canadian Wholesale Sales looked sharp, jumping 2.5%. The Fed minutes were dovish in stance, as policymakers raised concerns that a rate hike might hurt the

NZD/USD Forecast Feb. 23-27

NZD/USD Forecast Feb. 23-27

The New Zealand dollar  enjoyed more positive data from the local economy and advanced against the USD and the AUD. Does it have more to run? Trade balance and business confidence are among the highlights of a busy week. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. Retail sales in New Zealand came

EUR/USD Forecast Feb. 23-27

EUR/USD Forecast Feb. 23-27

EUR/USD was heavily influenced by every headline related to Greece and the positive finish to the week provides hope. The last week of February features another TLTRO auction as well as inflation and confidence numbers, with the highlights coming from Draghi’s speeches. Here is an outlook for the highlights of this week and an updated technical analysis for

Forex Weekly Outlook Feb. 23-27

Forex Weekly Outlook Feb. 23-27

The US dollar was mixed in a week dominated by Greek headlines. US Consumer Confidence, inflation data, GDP numbers from the US and the UK and most importantly speeches from Mario Draghi and Janet Yellen’s stand out. These are the major events on our Forex calendar. Here is an outlook in the highlights of this week. The Greek drama remained

USD/JPY Forecast Feb. 16-20

USD/JPY Forecast Feb. 16-20

USD/JPY was unchanged last week, as the pair closed at 118.67. This week’s key events are Preliminary GDP and the BOJ Monetary Statement. Here is an outlook on the major events moving the yen and an updated technical analysis for USD/JPY. US key data disappointed last week. Jobless claims jumped above the 300 thousand level

USD/CAD Forecast Feb. 16-20

USD/CAD Forecast Feb. 16-20

The Canadian dollar posted modest gains last week, as USD/CAD closed at 1.2446. This week’s highlights are Wholesale Sales and Core Retail Sales. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD. Canadian Manufacturing Sales was unexpectedly strong, posting an excellent gain of 1.7%. Over in the US, it was a rough week for key numbers.