Weekly Forex Outlook: Mar. 12-16

US jobs growth was higher than expected in February, but wage inflation disappointed. As a result, traders doubt that the Federal Reserve will raise rates 4 times this year. More likely there will be just 3 rate hikes. The main conclusion is that for now there are few reasons to buy the USD.

Another important result of the last week was an improvement in risk sentiment. It happened as concerns about global trade wars and North Korea declined.

These factors, as well as the optimistic Bank of Japan, helped USD/JPY to recover to 107.00. The pair closed above resistance line since the start of January, so it has a chance to visit 108.00.

EUR/USD failed to rise above 1.2450 and was rejected to 1.23 area as European Central Bank President Mario Draghi indicated that the bank is in no hurry to reduce the monetary stimulus. This will make the euro’s life more difficult.

GBP/USD is inside a descending triangle. More active trading will start when the pound gets out of it: wither above 1.3900 or below 1.3750. There’s no progress in Brexit talks yet, although British economic figures were good.

Canadian dollar got a positive boost. USD/CAD has a good chance to slide to 1.2750/1.2700.

Economic calendar

This week the US will publish several important data blocks.

The most important event for the pound will be the spring statement of Finance Minister Philip Hammond on Tuesday. It will contain important info about the UK economy.

We’ll hear from central bank leaders – Bank of Canada’s governor will speak on Tuesday, while the ECB president – on Wednesday.

All in all, there are not so many big events this week, so the market will be driven by primarily by the risk appetite.

Similar

Jackson Hole, Gold, and Powell | Market News
Jackson Hole, Gold, and Powell | Market News

The gold has made a perfect retest, but will it hold against the rising dollar? Also, the Jackson Hole Symposium and Jerome Powell's speech may become critical for most assets, and finally, more economic releases and earnings reports await you.

Latest news

FOMC Meeting, Gold Plunge, and Pound Decrease | Market News
FOMC Meeting, Gold Plunge, and Pound Decrease | Market News

Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera