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.
US dollar: forecast for Sep. 4-8
The fundamental picture for the US currency looks rather grim. Geopolitical tensions increased as North Korea launched a missile that flew over Japan on Tuesday and claimed to have detonated a hydrogen bomb on Sunday. In addition, Trump’s Administration ordered to close 3 Russian diplomatic facilities in the United States. On the domestic front, hurricane Harvey may be the most expensive natural disaster in the US history. No big announcement on the US tax reform came from Donald Trump. Finally, US labor market figures for August brought a big disappointment. America created only 156K jobs vs. 180K expected. Unemployment rate increased to 4.4% and monthly wage growth slowed down to 0.1%.
The latest US jobs report helped to ease fears of a recession. The US dollar fell after Friday's job reports, but only in short term. The USD is still the market’s #1 currency.
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…
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.
The trading world is looking forward to the FOMC meeting on Wednesday! The rate hike is obvious…