In financial markets, gold has suffered the worst week in 5 months. This is because the Dow Jones outpaced the tech-heavy Nasdaq 100. Long-dated government share yields of the developed world accelerated higher, perhaps speaking to standing confidence in the broader economic outlook and creeping inflation expectations.
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In foreign exchange markets, the port-linked US dollar was slightly lower. The Canadian Dollar took its place as one of the best performing major currencies. The New Zealand dollar suffered this past week as the RBNZ left rates unchanged but left the door open for the option of implementing negative rates.
Initially, a major event risk in the new week was a 6-month review of U.S.-China trade phase one. But that has been indefinitely postponed according to people familiar with the matter. With that in mind, the week ahead is pretty light in economic event risk. Major U.S. retailers such as Walmart, Target and Home Depot will report revenue.
Japan’s second-quarter GDP print will provide further insight into the state of global economic health. This is like the Fed and ECB release the minutes of their last monetary policy meetings. Global stock markets remain generally jubilant despite the ongoing stalemate among U.S. politicians over a second fiscal package. What else is in store for markets in the coming week?
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Fundamental forecasts:
Euro may rise if Q2 GDP and PMI data extend the recovery time
The Euro may rise as preliminary Q2 GDP data and PMI statistics show a clearer-than-expected picture and hope for a smoother recovery.
Dow Jones serves pressure as inflation betting with the US dollar
The Dow Jones industrial average may be facing increasing selling pressure after the stock index moved back to pre-Covid levels. An increasing inflation outlook could lead to a less volatile Fed and thus a stronger US Dollar.
USD / MXN Week Ahead: Is the Top in the Mexican Peso Sustainable?
USD / MXN breaks down in support of downtrend as Banxico cuts rates to restart economy
Weekly Outlook for Crude Oil: Edge Oil Stalls Ahead of OPEC Meeting
Up in Crude Oil wrestles ahead of OPEC meeting. Cartel will likely wait and see approach approach.
Gold price outlook: will XAU / USD be the worst week in 5 months?
Gold prices lead the worst week in 5 months, is this the start of a new trend? The short-term outlook still seems to be leading the way in cheap global borrowing costs.
US Dollar Price Release: Stimulus Deadlock, China Row Boost USD
The US dollar may rise, driven by demand for ports, as fiscal stimulus talks stagnate and swell tensions between Washington and Beijing sink trade talks.
Technical forecasts:
Golden price forecast: Calls for a summit are too early, even if right
Gold had some big moves last week, and although it is expected to die a bit, it will be important to see if gold can hold its ground in the coming days / weeks …
Sterling Price Outcome: Pound Rally plunges into uptrend resistance
The Sterling breakout remains vulnerable as price remains contract below trend resistance. Here are the levels of interest on the weekly chart.
Dow Jones, S&P 500 and FTSE 100 Forecasts for the Week Ahead
A handful of stock markets made significant technical moves last week that could open the door for Bullish continuations. Here are the levels to look at in the coming week
US DOLLAR WEEKLY INFORMATION OF CURRENCIES AND GOLD
