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Weekly Trading Forecast: Focus Remains on US Risk as NFPs Print Tuesday

David Rodriguez John Kicklighter Ilya Spivak Michael Boutros David Song Christopher Vecchio

US Dollar Forecast - US Dollar Traders Link Long-Term Trend to Key NFPs Release

The Dow Jones FXCM Dollar Index (ticker = USDollar) dropped 1.2 percent this past week – the sixth drop in seven weeks.

Euro Forecast – Euro Gaining versus Dollar but Struggling Elsewhere amid Middling Data

The Euro failed to capitalize on bolstered risk flows thanks to a medium-term resolution to the US fiscal deadlock, although it did manage to make significant progress towards its yearly highs ($1.3710 on February 1) against the US Dollar by the end of the week ($1.3704 on October 18).

British Pound Forecast -British Pound Looks Dangerously Overstretched - How do We Trade

The British Pound surged versus the downtrodden US Dollar and yet finished just short of year-to-date peaks.

Japanese Yen Forecast - Japanese Yen Strength to Be Undermined by Slowing Inflation

The Japanese Yen regained its footing against the dollar, with the USDJPY slipping back below the 98.00 handle, and the pair may continue to give back the rebound from earlier this month as it carves a lower high just below the 99.00 region.

Gold Forecast - Gold Eyes Monthly High Ahead of NFPs as Bearish Momentum Falters

Gold prices rallied 3.24% this week with the precious metal trading at $1313 ahead of the New York close on Friday. The advance comes amid a rally in broader equity markets with the S&P making fresh record highs while a substantial sell-off in the greenback was further exacerbated as the government shut-down pushed out expectations for a Fed tapper this year. Subsequently, gold rebounded off key support at $1268 with the rally breaching a medium-term technical formation.

Australian Dollar Forecast - Australian Dollar Braces for Impact as US Data Backlog Emerges

We’ve argued in favor of a significant Australian Dollar recovery since early August.

Weekly_Trading_Forecast_Focus_Remains_on_US_Risk_as_NFPs_Print_Tuesday_body_Picture_1.png, Weekly Trading Forecast: Focus Remains on US Risk as NFPs Print Tuesday

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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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