Dow Jones, Gold, EUR / USD, ECB, USD / CAD, BoC, Treasury yields

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How to trade currencies with your stock trading strategy


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Most global equities finished last week on a high note. On Wall Street, the Dow Jones, S&P 500 and Nasdaq Composite all rose more than 1%. European stocks outperformed, the DAX 30 and FTSE 100 climbed 1.48% and 1.5% respectively. The Asia-Pacific region was a mixed bag, with the Nikkei 225 down 0.28% while the ASX 200 was up 0.98%.

The general good mood probably stems from a significant shift in yields on long-term Treasuries. The 10-year rate fell 4.73% in the worst 5-day period since the start of December. This despite significantly higher than expected US inflation and retail sales data. The Fed’s accommodative comments dampened rate hike expectations in 2022, rekindling the bullish momentum in equity markets.

As a result, the safe haven US dollar underperformed. The DXY dollar index closed at its lowest for about a month. This was when the sentiment-linked New Zealand and Australian dollars capitalized the most against the weaker greenback. The Japanese yen and the Swiss franc also continued to advance. Precious metals, like gold and silver, also outperformed.

The coming week contains some risks of notable economic events, especially the Bank of Canada and European Central Bank interest rate announcements for USD / CAD and EUR / USD respectively. The former can begin rolling out its emergency pandemic response programs, but the increase in local Covid cases and Ontario’s lockdown remain a fundamental headwind.

The US will also see Markit Manufacturing’s PMI data for April, but it remains to be seen if better results could significantly alter the Fed’s outlook for now. Profit season is in full swing, with companies like Intel and Netflix. What else is in store for financial markets in the coming week?

How to trade currencies with your stock trading strategy
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How to trade currencies with your stock trading strategy

WEEKLY PERFORMANCE OF THE US DOLLAR AGAINST CURRENCY AND GOLD

Markets for the coming week: Dow Jones, Gold, EUR / USD, ECB, USD / CAD, BoC, Treasury yields

Fundamental forecasts:

Dow Jones can aim higher, backed by strong earnings and data

A series of strong bank profits and good economic data could pave the way for higher US stock indexes. With consumer spending accelerating and job creation, the path of least resistance appears to be on the upside.

Outlook for the US dollar bogged down by lower yields on longer-dated US Treasuries

The US dollar extends the decline from early April as the 10-year Treasury yield slips to a new monthly low (1.53%).

Bitcoin, Ethereum Slide on Turkish Ban, Dogecoin Goes Ballistic, Up 500% + in One Week

Bitcoin (BTC / USD) is giving back some of this week’s record gains after Turkey banned crypto-payments, but the drop in prices will likely prompt buyers to return to the table. Dogecoin is soaring.

Weekly Gold Forecasts: No More Rise Likely – Can It Be Sustained?

Gold is back to levels last seen in February after clearing key resistance.

Euro forecast: EUR / USD outlook improving, what to expect from ECB meeting

For euro traders, the coming week will be dominated by Thursday’s ECB meeting. Eurozone monetary policy will not be changed, but Lagarde’s comments should be reconcilable.

Fundamental weekly forecast for the pound sterling: the pound seeks a likeness of stability

As UK vaccination rates have slowed, coupled with a backdrop of calmed UK yard yields, the relative appeal of the pound that led it through the first three months of 2021 has been tarnished.

Aussie dollar forecast: AUD / USD could rise as Fed calms yields, US dollar

The Australian dollar may continue to capitalize on accommodative comments from the Fed that dented yields on the US dollar and the Treasury, boosting equities ahead of a relatively quiet week.

Technical forecasts:

Dow Jones, Nasdaq 100, DAX 30 forecasts for the coming week

The Dow Jones, Nasdaq 100 and DAX 30 will look to continue their hot streak and dive deeper into record territory amid a wider wave of risk appetite.

US Dollar Outlook: USD Correction Plunges Towards 2021 Uptrend Support

The dollar fell for a second week in a row after moving away from the technical resistance breakout. Here are the levels that rely on DXY charts.

Gold Price Forecasts – Increasingly Bullish Prospects To Watch Out For

Gold is rising well out of support and is breaking out of its first resistance level; the overall short-term trade bias is higher.

Crude Oil Technical Forecasts: Bulls Push But Major Resistance Coming

Crude had a strong week of price action after a month of digestion. But can oil bulls break through a major area of ​​key resistance?

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