US NFP missed the forecast, but traders await the release of the US inflation figures on Friday…
AUD/USD: forecast for July 24-2
The weakness of the US currency made AUD/USD leap higher. Better-than-expected economic data from China contributed to the increase. Australian labor market figures were also bright: there was the second highest one-month employment gain since 2011. The minutes of the Reserve Bank of Australia’s July meeting showed that the regulator sees the necessity of higher rates. In this positive environment, the pair’s small retreat by the end of the week was caused just by the massive profit taking and not by some bad things.
Three centra banks will set the market in motion this week. The USD is under pressure after the weaker-than-expected NFP. ETH/USD is testing highs.
The ECB meeting is the most awaited event of the week! How will markets react? Watch the video to get fresh trade ideas on EUR/USD, GBP/USD, and Gold!
Gold is about to break the most significant support. The US dollar index keeps gaining momentum. However, the situation might change this week, and we might see a tiny correction. Investors might return to risk-on and push the US stock market indices and cryptocurrencies to the upside. These and more trade ideas are in our new weekly video! Do not miss it!
This week is likely to be pivotal for many assets, including gold, USD, and several stocks. However, we need to be focused and react fast to the ever-changing environment to get the most from it.
This week, the majors will be affected by the interest rate decision by the Federal Reserve, NFP, the BOE Meeting, and more events.