Forex Weekly Trading Forecast – 02.25.2013

Forex Weekly Trading Forecast – 02.25.2013 By John Kicklighter, Sr. Currency Strategist ; Christopher Vecchio, Currency Analyst ; David Song, Currency Analyst ; David Rodriguez, Quantitative Strategist ; Ilya Spivak, Currency Strategist ; Renee Mu and Michael Boutros, Currency Strategist

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Dollar Not an Oversold Currency Waiting for Risk Collapse

The US equity market’s have shaken otherwise complacent investors and further sown fear of what a serious risk aversion move could wrought for the financial markets. It would seem a clear read for the greenback should stimulus-backed confidence falter…but is it?

Euro’s Ugly Fundamentals, Italian Election Dent Optimism

The Euro struggled this past week, only outpacing the British Pound and the Canadian Dollar, while losing significant footing versus the Australian Dollar, the Japanese Yen, and the US Dollar.

Japanese Yen at Risk as BoJ Nomination Nears- Fed Testimony on Tap

The Japanese Yen held a narrow range going into the final days of February, but the low-yielding currency remains poised to face increased volatility in the days ahead as the new government plans to announced its nomination to replace Bank of Japan (BoJ) Governor Masaaki Shirakawa.

British Pound Breakdown Looks Like the Real Deal – Here is Why

The British Pound finished the week at fresh multi-year lows against the US Dollar (ticker: USDOLLAR) as a surprising Bank of England vote tally warned that the central bank may soon initiate further Quantitative Easing (QE) and devalue the domestic currency.

Gold Hits $1555 Target- Prices to Range Ahead of Bernanke Testimony

It has been quite the week for gold traders with the precious metal plummeting nearly 2% to trade at $1578 at the close of trade in New York on Friday. Bullion has now triggered all of our targets cited in last week’s gold forecast after a surprisingly hawkish Fed minutes prompted a massive decline that saw prices drop more than $40 in a single session.

Australian Dollar at Risk on Italian Election, US Growth Fears

The Australian Dollar may succumb to the return of market-wide risk aversion as Italy holds a general election while US “sequester” budget cuts loom ahead.

Canadian Dollar Outlook Remains Bearish Ahead of GDP Report

The Canadian dollars weakened against its U.S. counterpart on the week, with USD/CAD hitting 7-month highs, as retail sales in December unexpectedly dropped by the most since 2010. In addition, Canada’s Consumer Price Index inflation for January came in lower-than-expected on both monthly and yearly basis.

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Forex Weekly Trading Forecast for December 16 – 22, 2012

Forex Weekly Trading Forecast for December 16 – 22, 2012 
By David Rodriguez, Quantitative Strategist ; John Kicklighter, Sr. Currency Strategist ; Ilya Spivak, Currency Strategist ; Michael Boutros, Currency Strategist ; David Song, Currency Analyst and Christopher Vecchio, Currency Analyst

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The US Dollar (ticker: USDOLLAR) and Japanese Yen were the worst performers in an eventful week for forex trading. Price momentum favors further USD and JPY losses, but caution is urged ahead of potentially difficult week of currency price action.

US Dollar Targets Losses, but Trading Defensively into January

A fresh wave of Quantitative Easing from the US Federal Reserve was enough to push the US Dollar (ticker: USDOLLAR) lower cross the board, and current price momentum leaves short-term trading outlook in favor of Greenback losses.

EUR/USD Just Below 1.3200 Without Major Threats…Or Catalysts

The euro’s strength was robust and broadly distributed this past week. A combination of general (though modest) improvement in economic …

Japanese Yen Remains Oversold – Elections, BoJ Meeting In Focus

The Japanese Yen continued to weaken against its U.S. counterpart, with the USDJPY advancing to a nine-month high of 83.95, and the December 16 elections may continue to weigh on the low-yielding currency as Liberal Democratic Party President Shinzo Abe pushes for an unlimited asset purchase program.

British Pound to Steady Amid Mixed CPI, BoE Minutes

Our attention is drawn to a future BoE governor, which when combined with the near-term fundamental backdrop necessarily suggests a “neutral” rating for the British Pound for the next week.

Gold Lacks Direction Following Historic FOMC Policy Shift – $1693 Key

Gold prices were slightly softer at the close of a volatile week with the precious metal off by 0.52% to trade at $1695 at the close of trade in New York on Friday.

Australian Dollar May Fall After US “Fiscal Cliff” Deal

The Australian Dollar may fall after US policymakers reach a widely expected deal to avoid the “fiscal cliff” as focus turns to the 2013 RBA rate cut outlook.

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Forex Trading Weekly Forecast – 12.10.2012

Forex Trading Weekly Forecast – 12.10.2012 by John Kicklighter,Ilya Spivak,Michael Boutros,David Song,Christopher Vecchio

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Dollar Will Struggle to Climb with Fed, Fiscal Cliff Ahead

– The dollar’s performance this past week – like the broader capital and FX markets – was uneven. Nevertheless, the first three-day rally from the Dow Jones FXCM Dollar Index (ticker = USDollar) in three weeks and an impressive reversal from the benchmark EURUSD have called traders attention for what could happen over the coming week.

Euro Jolted by ECB Rate Cut Rumors – Data Offers Little Clarity

– The Euro was looking strong in the early part of the week, rising back above 1.3100 against the US Dollar as progress on the US fiscal cliff/slope soothed near-term investors’ anxiety. But by mid-week, the Euro’s fortunes were very much changed. With an inconclusive docket for the coming week, with a decision on Greece’s aid tranche on Thursday, with Spain beginning to flirt with a bailout request, and with the European Central Bank’s policy meeting results all likely to influence the 17-nation single currency, we must maintain a “neutral” bias on the Euro.

British Pound Outlook Supported By BoE Policy- 1.6200 Remains Key

– The British Pound continued to retrace the decline from back in September as the Bank of England (BoE) maintained its current policy stance in December, and the short-term rebound in the GBPUSD may gather pace over the remainder of the year as the central bank appears to be slowly moving away from its easing cycle.

Australian Dollar Eyes China Data, Risk Trends for Cues

– Later in the week, larger risk trends come into focus. Prices continue to show a significant correlation with the S&P 500 – a proxy for market-wide sentiment trends – exposing the Aussie to a busy docket of event risk. A series of Eurozone summits keeps the debt crisis in the headlines.This month’s sit-down has long been billed as the time for final agreements to emerge after months of haggling, meaning traders will look for game-changing headlines to emerge. If the summit fizzles once again, risk sentiment is likely to suffer and punish the Australian Dollar in the process.

Gold Struggles Ahead of FOMC Meeting- Policy Outlook To Drive Prices

– Gold was off by 0.64% this week with the precious metal closing at just shy of $1704 in New York on Friday. The move comes amid a volatile week filled with event risk as central bank decisions from Australia, New Zealand, Canada, the UK and the Eurozone kept traders on their toes. An interest cut from of the RBA, a downgrade Eurozone growth projections from of the ECB, a rather misleading and However, with gold posting its second weekly decline off the August highs, is the metal poised for further losses?

The US dollar (ticker = USDollar) ended another week relatively unchanged against major counterparts, even with a significant NFP report. Large-ticket items are on this week’s docket as well, highlighted by the final FOMC meeting and press conference by Chairman Bernanke on Wednesday. However, the slow end-of-year drain of volume from the markets may result in another week of daily moves, but no ground gained at the end of Friday.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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