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FX Empire
AUD/USD and NZD/USD Fundamental Weekly Forecast – Will Be Pressured if China Retaliates on New U.S. Tariffs
U.S. Preliminary GDP is expected to come in at 2.0%, down from the first estimate of 2.1%. This is the major report in my opinion because this will let investors know how much closer the economy has moved toward a recession. Remember, the classic definition of a recession calls for 2 consecutive quarters of negative economic activity.
FX Empire
USD/JPY Fundamental Weekly Forecast – Traders Will Be Watching for China’s Response to New U.S. Tariffs
President Trump triggered a steep break in the Dollar/Yen when he tweeted, “Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.”
FX Empire
Bitcoin as the New Safe Haven
Bitcoin, the bad boy of the global financial markets that, could by some, be considered a safe haven. There may be some way to go for others…
FX Empire
U.S. Dollar Index Futures (DX) Technical Analysis – Strengthens Over 97.545, Weakens Under 97.510
Based on Friday’s price action and the close at 97.530, the direction of the September U.S. Dollar Index on Monday is likely to be determined by trader reaction to the support cluster at 97.545 to 97.510.
Investing.com
Energy & Precious Metals - Weekly Review and Calendar Ahead
By Barani Krishnan
FX Empire
USD/JPY Forex Technical Analysis – Vulnerable to Steep Drop Under 104.600
Based on Friday’s price action and the close at 105.420, the direction of the USD/JPY on Monday is likely to be determined by trader reaction to the pivot at 106.013.
FX Empire
NZD/USD Forex Technical Analysis – Strengthens Over .6411, Weakens Under .6362
Based on Friday’s price action, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to Thursday’s high at .6411. This is because the Forex pair formed an inside move on Friday, which typically indicates investor indecision and impending volatility. This move will indicate that traders have made the decision to go long at current price levels.
FX Empire
The Week Ahead: Trade, Stats and the G7 Summit to Drive the Majors
It’s a particularly busy week ahead. The markets will need to monitor updates from the G7 summit, chatter on trade, Brexit and the stats.
FX Empire
RBA’s Philip Lowe: ‘Political Shocks are Turning into Economic Shocks’
RBA Governor Dr. Philip Lowe finished his speech by saying ending the political uncertainty would also bring benefits. “With these three levers stuck, the challenge we face is monetary policy is carrying too much of a burden.”
FX Empire
Safe-Haven Buying Boosts Yen; Kiwi Underpinned by Central Bank Comments
The U.S. Dollar weakened against the Japanese Yen and Australian and New Zealand Dollars after President Donald Trump ordered U.S. companies to start looking for an alternative to China. RBA Monetary Policy Minutes showed policymakers were willing to “wait and see” how the economy does after a pair of rate cuts in July and August. RBNZ Governor Adrian Orr said he was “pleased” with where interest rates were.
FX Empire
Dollar Index Plunges on Increasing Concerns Over U.S. Recession
The Canadian Dollar rose 0.15% against the U.S. Dollar. Gains were limited by a steep drop in crude oil prices. The Euro posted a 0.46% gain against the dollar, but due to its heavy weighting, it had the biggest influence on the index’s decline.
FX Empire
Demand for Risk Plummets as Trump Orders US Manufacturers Out of China
President Trump lit up the Twitterverse with a series of scathing tweets criticizing the Fed, Jerome Powell and China. But this time, he didn’t stop there, he took action that triggered a steep break in the stock market, while spiking demand for safe-haven assets.
FX Empire
Chinese State Council Slaps US with More Tariffs
The announcement caught traders off-guard and they responded in textbook fashion by buying safe-haven Treasury bonds, Japanese Yen and gold, while selling higher-yielding U.S. stocks. However, the moves were muted as investors put faith in Powell’s ability to soothe the sudden volatility.
FX Empire
Powell Says Fed Prepared to Act to Sustain Expansion; Acknowledges Limited Monetary Policy Tools
“We can, however, try to look through what may be passing events, focus on how trade developments are affecting the outlook, and adjust policy to promote our objectives,” he added.
FX Empire
Gold Price Prediction – Gold Breaks Out Following Trump Tweets
Gold prices close at a 6-year high
FX Empire
Forex Daily Recap – Ninja Dropped Sharply as China Retaliates with Tariffs
Today, the Indian rupee currency rose in value as the country’s Finance Minister, declared government’s moves to boost the economy. Meantime, Fed Chair Powell said that the US stays in a safe place and the bank will act appropriately in the upcoming meetings.
FX Empire
Gold Price Forecast – Gold markets continue bullish run
Gold markets rallied significantly during the trading session on Friday as we continue to see the bully should run pick up momentum. This was especially interesting considering that Jerome Powell spoke during the day, and that means we are looking through the speech and now at the likelihood of central bank easing.
FX Empire
Risk Appetite Reverses as China Strikes Back With New Tariffs
A wave of risk aversion is flooding financial markets this afternoon after Beijing announced it would apply additional tariffs of between 5% and 10% on $75 billion of US imports from September.
FX Empire
Gold Weekly Price Forecast – Gold markets form supportive weekly candle stick
Gold markets initially fell during the week but found enough support near the $1500 level to turn things around of form a bit of a hammer. We are at extended levels though, so the question then becomes whether or not we can continue this move.
FX Empire
USD/JPY Weekly Price Forecast – US dollar continues to consolidate against Japanese yen
The US dollar has gone back and forth during the week but has broken down from the same resistance barrier that we have seen. Ultimately, this is a market that continues to see a lot of trouble at the same levels after a less than clear Jerome Powell speech.
FX Empire
GBP/USD Weekly Price Forecast – British pound continues slight recovery
The British pound initially fell during the week but then rallied towards the crucial 1.2250 level again. This is an area that has been important more than once, so it makes sense that we are struggling just a bit here. That being said though, I think that the market is simply bouncing from a very low level.
FX Empire
EUR/USD Weekly Price Forecast – Euro continues to hover
The Euro continue to hover during the week, going back and forth as there is a lot of uncertainty out there. Ultimately, the Federal Reserve and the ECB are both looking very dovish, so it causes a bit of confusion. Ultimately, one should take a look at the greater economic situation to see where the next likely move is.
FX Empire
AUD/USD Weekly Price Forecast – Australian dollar continues to grind lower
The Australian dollar continues to show a bit of weakness, as the US/China trade situation does not seem to be getting any better. If that’s going to be the case, then there’s no reason to think that the Australian dollar will be able to pick it up.
FX Empire
USD/JPY Price Forecast – US dollar continues to chop
The US dollar has initially tried to rally during early trading on Friday but has ran into a little bit of a brick wall. That being said, the inclusion of the Jerome Powell speech will certainly have a significant amount of influence on this market.
FX Empire
GBP/USD Price Forecast – British pound continues to show volatility
The British pound has gone back and forth during trading on Friday, as we continue to see a lot of volatility in Sterling. Quite frankly, there is nothing on the horizon that looks like the Brexit is going to be salt, so this should offer a nice selling opportunity at higher levels.