Market sentiment mostly improved last week as all eyes were on the high tech Nasdaq Composite, which climbed around 3.7%. Revenue from Facebook, Amazon, Apple and Google – which are part of the FAANG group – have shattered expectations. The Dow Jones Industrial Average was left behind, ending the week at -0.16% as the S&P 500 rose 1.73%. The US dollar, tied to the safe haven, sank further.
Don’t give in to desperation, make a game plan
Meanwhile, the Federal Reserve left interest rates unchanged at near zero levels with aggressive unconventional stimulus measures to remain in place for the foreseeable future. A combination of these developments may have kept markets jubilant despite rising coronavirus cases and deaths around the world. The government ended the week without a stimulus deal.
The earnings season remains in play, as reported by some financial, automotive, energy, media, health and other businesses. Developed countries, the Reserve Bank of Australia and the Bank of England will have their next upcoming monetary policy announcements. But the Australian dollar and British pound may be focusing elsewhere, with central banks in an accommodating position for now.
At the end of the week, all eyes will be on the next one jobs report of the world’s largest economy to continue to assess overall growth forecasts. The Canadian and New Zealand dollars will also have to contend with local employment data. Lately, precious metals – such as gold and silver – have rallied strongly. Will these trends continue?
Are retail traders looking at momentum or fighting it?
Discover your business personality to find optimal forms of financial market analysis
Australian dollar outlook hinges on Covid-19 cases ahead of RBA rate decision
Aussie dollar set to extend gains against major peers ahead of RBA interest rate decision
USD / MXN Week ahead: volatile price action continues
Weak dollar undermines USD / MXN performance as coronavirus cases continue to scare the market
Weekly Gold Price Outlook Consolidates Nearly Records
Real yields on US Treasuries are currently trading at or near an all time high, increasing the attraction of gold and supporting any potential declines.
Bearish USD outlook on earnings data, stimulus talks, accommodative Fed
The US dollar may extend its losses as demand for the safe haven asset declines amid strong large-cap earnings and continued support from the Fed.
Crude oil price outlook sees a restart in OPEC production, demand in US and China
Crude Oil Prices May Be Torn Between Growing US, Chinese Demand As OPEC + Beginss restore output. Will the non-farm payroll report give more life to WTI and Brent?
Nasdaq 100, DAX 30 and ASX 200 forecasts for the coming week
As the peak of the earnings season wears off, stock markets will refocus on more traditional economic data and possible electoral uncertainty in the United States.
Euro forecast: EUR / USD outlook still good after six weeks of gains
EUR / USD has now gained ground for six straight weeks, bringing it back to levels last seen in 2018, and there is still no sign of its tiring lead.
Gold price forecasts: is the bar’s impact resistance assured?
TThe extreme reading of the Relative Strength Index (RSI) may be accompanied by a rise in gold prices, like the behavior seen earlier this year.
Euro technical outlook: EUR / USD breakout marks sixth week – Rally at risk
The euro rally is about to mark a sixth week with the lead now testing critical technical resistance. Here are the levels that count on the EUR / USD weekly chart.
S&P 500, FTSE 100 technical forecast for next week
S&P 500 Approaching Critical Support, FTSE 100 Breaks Bearish As Unpleasant Seasonal Month Approaches
Japanese Yen Forecast: Can USD / JPY Go Out of Its Own Way?
The USD / JPY rose sharply on Friday, but there are doubts whether this is a sustainable move.
British Pound Price Forecast: GBP / USD, GBP / JPY, EUR / GBP, GBP / CAD
It’s been a good week for Sterling – but can he continue? GBP / USD and GBP / CAD set up explosive moves while GBP / JPY and EUR / GBP set significant hurdles on the chart.
WEEKLY PERFORMANCE OF THE US DOLLAR AGAINST CURRENCY AND GOLD