Weekly Fundamental US Dollar Forecast: Greenback May Have Topped; US NFP This Week
The July Fed meeting changed the trajectory for the US Dollar for the rest of 2022.
The July Fed meeting changed the trajectory for the US Dollar for the rest of 2022.
It is another busy week ahead for traders, with several potentially high-impact events that could shift market sentiment and Fed rate hike bets. July closed out with strong gains for risk assets.
S&P 500 registers best month since November 2020. FTSE 100 breaks above 100 and 200DMA
Fresh data prints coming out of the US and Canada may influence the near-term outlook for USD/CAD amid the ongoing shift in monetary policy.
The Euro slightly gained as the US Dollar weakened. US GDP shrinking once again placed more focus on a pivot from the Federal Reserve. Are markets wrong? All eyes are on non-farm payrolls data.
Gold prices could continue to recover in the near term as weakening US economic data could prompt a Fed monetary policy pivot later this year, a scenario that could weigh on Treasury yields.
BTC and ETH are increasingly tackling higher resistance levels. BTC July gains could top 20%.
The Australian Dollar rollicked through the week, with CPI coming in high but below expectations before the Fed and US GDP decimated the US Dollar, lifting AUD/USD.
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