This week, the majors will be affected by the interest rate decision by the Federal Reserve, NFP, the BOE Meeting, and more events.
US dollar: forecast for August 7-11
The US dollar index managed to stabilize above 92.40 during the past week. The nation’s labor market data came in good: American nonfarm payrolls added 209K versus 182K expected. The unemployment rate declined from 4.4% to 4.3% and average hourly earnings gained 0.3% - more than last month.
Reasons behind the USD's advance, the earnings season in the United States, the outlook for EUR, JPY, Apple, Amazon, and more in this video!
This week, we will continue monitoring the developments in the stock and commodity markets as tensions between Ukraine and Russia and Fed’s tightening cycle remain the main issues driving the markets.
More reports, the start of a rally in crypto, outlook for gold and forex. This week is full of impactful releases, and we are here to trade on them.
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.