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.
USD/JPY: forecast for Sept. 4-8
Japanese yen has been influenced by tensions between the US and North Korea. It gained as a safe haven it the beginning of the week after North Korea fired a missile over Japanese territory on Tuesday. USD/JPY fell to 108.25 before recovering to the 110.50 area. During the weekend North Korea claimed to detonate a hydrogen bomb, so the week opened with a small gap down.
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…