Category: Weekly Forex Forecasts

Forex Weekly Outlook November 3-7

It was quite an end to the month, with the dollar strengthening against most currencies, and especially against the plunging yen. And it is about to get busier with rate decisions in Australia, the UK and the euro-zone, employment figures from New Zealand, Australia, Canada as well as the buildup to the all-important NFP report. These are the major market movers planned for this week. Check out these events on our weekly outlook.

The Federal Reserve ended its QE3 program with an upbeat tone on employment, a not-too-worried view on inflation and even a dovish dissenter for a change. The first release of GDP that came a day later showed the economy grew 3.5% in Q3 slightly better than forecast, suggesting the US economy is marching forward, even though the components were mixed. The Bank of Japan seems to have picked the baton: in a shock move, the BOJ enlarged its QE program in terms of quantity and also in potential assets. Together with a change in the pension fund’s policy towards buying stocks, we had a collapse of the Japanese yen and global stock market rallies. In the euro-zone, inflation remains low. German data was mostly poor, but the number of unemployed is lower.  The loonie suffered from weak GDP and the kiwi from a dovish central bank. What’s next? Let’s start:

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USD/CHF Looks Set For A Move Lower

USD/CHF Looks Set For A Move Lower

The US dollar was seen trading lower Intraday against the Swiss franc, as there was selling interest noted. The US dollar also traded lower against currencies such as the Euro and the British pound. There is an important event lined up during the NY session in the US i.e. durable goods orders data will be

AUD/USD Forecast October 27-31

AUD/USD Forecast October 27-31

AUD/USD was almost unchanged last week, closing at 0.8786. There are just four events this week, highlighted by PPI. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD. Australian data met expectations and the RBA minutes showed highlighted continuing concern at the RBA with the high value of the Australian dollar. In

GBP/USD Forecast October 27-31

GBP/USD Forecast October 27-31

For a second straight week, the British pound showed movement but was unchanged over the week. The pair closed at 1.6084. There are 7 events on the schedule. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD. British Retail Sales and manufacturing data disappointed, but GDP matched the forecast. In

USD/JPY Forecast Oct. 27-31

USD/JPY Forecast Oct. 27-31

The Japanese yen reversed directions last week, as USD/JPY gained about  100 points. This week’s highlights include Retail Sales, Tokyo Core CPI and the Bank of Japan Monetary Policy Statement. Here is an outlook on the major events moving the yen and an updated technical analysis for USD/JPY. In the US data was generally positive last week, with

USD/CAD Forecast Oct. 27-31

USD/CAD Forecast Oct. 27-31

The Canadian dollar had showed some strength last week, with USD/CAD closing with modest losses. The pair closed the week at 1.1228. This week’s highlights include GDP and an appearance by BoC head Stephen Poloz before a parliamentary committee. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD. The Canadian dollar shrugged off a weak consumer spending data,

NZD/USD Forecast Oct. 27-31

NZD/USD Forecast Oct. 27-31

The New Zealand dollar managed to top 0.80 but eventually retreated and ended the week lower. The main event is the rate decision by the RBNZ. Will the central bank reaffirm expectations of holding on for longer? Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. The initial weakness of the greenback helped the

EUR/USD Forecast Oct. 27-31

EUR/USD Forecast Oct. 27-31

EUR/USD had an interesting week, amid speculation about central bank action on both sides of the Atlantic. A very busy week awaits us: the stress test results, Germany’s IFO survey and the all important inflation figures are set to dominate. Here is an outlook on the highlights of this week and an updated technical analysis for

Forex Weekly Outlook October 27-31

Forex Weekly Outlook October 27-31

Currencies were mixed in the past week, with the greenback gaining against the euro and the yen, while sliding against the the Aussie and the loonie. The Fed decision is the highlight of the week, alongside Yellen’s speech, GDP in the US and Canada and two additional rate decision. These are a few of the events

AUD/USD Forecast Oct. 20-24

AUD/USD Forecast Oct. 20-24

AUD/USD was marked by choppy trading this week and posted modest gains. AUD/USD closed at 0.8743. This week’s highlights are the RBA minutes and CPI. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD. The US dollar lost ground to its Australian counterpart last week, thanks to soft US retail sales and another weak inflation reading