The Federal Reserve speeds up its quantitative tightening, and this is certainly bullish news for the USD. At the same time, this is a negative factor for the American stocks, which have entered their seasonally worst month.
EUR/USD: forecast for May 1-5
EUR/USD opened the week with a bullish gap on the news that a pro-European candidate Emmanuel Marcon won the most votes in the first round of French presidential election. In the second round of the vote on May 7 Macron is expected to win against the Eurosceptic Marine Le Pen. Already at this point, many think that the European political risks have diminished. This is a bright spot for the euro.
The gold has made a perfect retest, but will it hold against the rising dollar? Also, the Jackson Hole Symposium and Jerome Powell's speech may become critical for most assets, and finally, more economic releases and earnings reports await you.
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.