The US Dollar finished the week sharply lower against major FX counterparts, but a better-than-expected labor market report forced it off of multi-year lows into Friday’s close. What’s next for the Greenback?
New yearly highs for the EURUSD as the ECB sits tight. The window for the ECB to enact new aggressive dovish policies may be closing, which should allow the Euro to remain elevated going forward.
The GBPUSD pulled back from a fresh monthly high of 1.6784 following the better-than-expected U.S. Non-Farm Payrolls report, but the British Pound may continue to coil up for a move higher as the Bank of England (BoE) moves away from its easing cycle.
There are two primary concerns for yen cross traders: is risk appetite supporting these over-valued carry trades and will the Bank of Japan follow through on its tacit vow to drive its currency lower?
The week ahead promises to be action-packed for the Australian Dollar, with a slew of catalysts on the domestic and the global front due to cross the wires.
Gold is firmer at the close of trade this week with the precious metal up by nearly 1% to trade at $1335 ahead of the New York close on Friday.
How does a Currency War affect your FX trading?
Written by the DailyFX Research Team. To sign up for a weekly e-mail with our currency outlooks, go to our page for forex news delivered to your inbox.
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