Forecasts: Find Out What Will be Driving the British Pound, Euro and Dollar in the Week Ahead - Watch Now
- Written by: Gary Howes
Those with a pending foreign exchange market decision should regard this weekly video from the team at BK Asset Mangement as compulsory watching.
The video deals with the forecasts for the major exchange rate market pairs and the levels at which they are expected wthin which to trade, presented by Boris Schlossberg.
Also covered are the key economic reports and market-moving events that lie ahead.
Highlights:
- A fall below 1.25 in EUR/USD
- Make or break week for the ECB?
- Where will the Yen go next?
- Will the pound exchange rate complex (GBP) continue to be a non-entity?
Week Ahead, ECB and Payrolls Could Fire Further USD Gains
The upcoming week promises to be a busy one for FX markets.
The two headline events are the ECB policy decision and associated press conference on Thursday and the US payrolls report on Friday.
Greg Anderson at BMO Capital says:
"The market is already quite long of USD, but a firming of QE plans by Draghi and another strong US number could induce further USD upside.
"In addition to these two events, Canada has its Labour Force Survey on Friday while the Minutes of the BoJ’s surprise rate cut meeting come out on Thursday. It’s probably just a risk factor, but we note that the US legislative election is Tuesday."
The above quotes are taken from the global FX spot market. It must be noted that your bank will widen the spread on the above numbers when passing on their retail rate to customers. An independent FX provider will however guarantee to undercut the bank's offer thus delivering you more forex. Please see more on this here.