After last week's CPI turned the markets upside down, we are looking at the performance of the US dollar…
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.
The release of the US CPI on Wednesday will determine whether US500 continues its advance or reverses down. Tensions between the US and China boosted the demand for gold, but will it persist?
A lot of exciting events are happening this week, including nonfarm payrolls, BOE and RBA rate hikes, and earnings season.
Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.
After the US CPI last week came out above the forecast, traders started expecting a 75-basis point rate hike…
In this video, we will talk about the potential change of a trend in the euro, another stock rally amid a global downtrend, gold prospects, and news that shakes the world right now. It’ll be a helpful video you don’t want to miss.