Weekly Trading Forecast: Can Markets Hold Steady Through US GDP with Trade Wars Exploding?

US Dollar Forecast – US Dollar May Rise After Trump Meets Juncker, GDP Growth Soars

The US Dollar may return to the offensive as President Trump dials down trade war rhetoric while second-quarter GDP data puts US growth at a four-year high.

British Pound Forecast – GBP: Holiday Lull Ahead but Brexit May Break the Calm

The UK Parliament begins a six-week holiday mid-next week with rumors of a leadership challenge still doing the rounds. A lack of UK data next week will also leave Sterling vulnerable to any Brexit update.

Australian Dollar Forecast – Australian Dollar Braces for CPI, US GDP, ECB and Trade Wars Next

The Australian Dollar braces for local inflation data, US GDP, an ECB rate decision and the threat of trade wars. Combining the risks creates for a rather bearish fundamental forecast.

Japanese Yen Forecast – USD/JPY Clings to Bullish Trend Ahead of U.S. 2Q GDP Report

Fresh data prints coming out of the U.S. economy may curb the recent selloff in USD/JPY as the growth rate is expected to expand 4.2% in the second-quarter of 2018.

Oil Forecast – Trump’s Trade War Threats Combine with Saudi Supply to Weaken Bullish Argument

Calendar spreads in the oil market have softened lately with Brent showing the first front-month discount since September that hurts the broader bullish argument.

Chinese Yuan Forecast- Yuan Eyes on PBOC’s Guidance; Stocks Outlook Remains Cautious

China’s top policymaker seems to have shifted tone on the Yuan to more weakness; at the same time, Chinese equities could still be vulnerable as the US threatened to impose additional tariffs.

Gold Forecast- Gold Prices Bounce From Fresh Yearly Lows After Trump Walks Back USD

Gold prices saw fresh yearly lows this week but will a turn in the USD offer some relief in the days ahead. These are the updated targets & invalidation levels that matter.

Equities Forecast –Nasdaq 100 Eyes New Record, DAX Seeks Improved EU-US Trade Relations

Nasdaq 100 staring at yet another record high with Amazon, Facebook and Alphabet reporting next week. DAX is seeking a boost from easing EU-US trade dispute.

See what live coverage is scheduled to cover key event risk for the FX and capital markets on the DailyFX Webinar Calendar.

Weekly Trading Forecast: Can Markets Hold Steady Through US GDP with Trade Wars Exploding?

See how retail traders are positioning in the majors using the IG Client Sentiment readings on the sentiment page.

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