Gold still has space to fall, and the euro is trying to price the ECB rate hike. Inflation readings, Elon Musk problems, earning reports, and the overall market outlook for forex await you in this video.
EUR/USD: forecast for September 11-15
Despite the fact that the European Central Bank President Mario Draghi referred several times to the euro’s strength, that didn’t stop buyers of the euro. According to him, strong euro was the main reason for a cut in the bank’s new 2018-19 inflation forecasts. In addition, Draghi let the market know that reduction of the ECB’s massive stimulus program was likely to be slow. Yes, traders thought that Draghi wasn’t trying too hard to talk the euro down. In particular, he didn’t hint at potential currency interventions. This gives green light to the EUR bulls.
The selloff of the stock market continues, bearish rumors for gold, levels for USD ahead of NFP, a preview of the rate statement by the Reserve Bank of Australia, and our trade results of June…
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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?
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