Nasdaq 100, Dow Jones, USD, CPI, CAD, Bank Of Canada are the markets to watch this week.
Investor confidence has improved over the previous week, with shares of IT companies leading the charge. On Wall Street, the Nasdaq 100 rose 4.71 percent, but the Dow Jones futures only rose by 0.87 percent.
Shares of IT businesses are leading the improvement in investor confidence over the prior week.
The Nasdaq 100 increased 4.71 percent on Wall Street, but the Dow Jones futures only increased by 0.87 percent.
The haven-linked US Dollar outperformed its key peers despite the rise in mood. The commodity-linked Australian Dollar exceptionally managed to increase in the last few days of the week as Copper prices rose in line with economic development.
The Euro underperformed noticeably as markets kept lowering hawkish ECB policy expectations.
Amid worries about the state of the world economy, stock markets initially reduced their expectations for hawkish Federal Reserve policies. At the conclusion of the week, though, this took a different turn.
Another strong non-farm payrolls report from the US pointed to a situation where the central bank needs to continue raising interest rates, which also featured higher-than-expected average hourly earnings.
Following all of this, the anti-fiat yellow metal did not do well, with the price of gold seeing its worst weekly performance in two months. All eyes are currently on the July US inflation report.
The headline CPI is anticipated to rise from 8.6 percent in June to 8.8 percent on Wednesday. Remember that the June reading served as the impetus for the 75-basis point rate increase.
In light of this, traders must use caution. Another strong print, particularly in light of the most recent jobs report, may easily bring back market turbulence.
Beyond CPI, the Bank of Canada will decide on interest rates the following week, and a 75-basis point increase is predicted.
The most recent jobs report from Australia will also be something to watch. The second-quarter GDP for China will also be released. What other plans do markets have?
Fundamental Predictions Moving Forward
US Dollar: June US Inflation Data May Support DXY’s Bullish Trend
The U.S. consumer price index report due out next week may reveal that June inflation accelerated to new multi-decade highs, which could in the short term strengthen Treasury yields and the U.S. dollar.
S&P 500 & DAX 40 Forecast for the Coming Week:
Nothing on US CPI. Europe’s Gas Flows from Russia
Low for Longer Australian Dollar Outlook: The Good Times Continue
An RBA rate hike and a massive trade surplus caused the Australian Dollar to swing back and forth throughout the week. The domestic economy is boosted by the low AUD/USD rate, which is maintained by a strong US dollar.
Forecasts for Bitcoin (BTC) and Ethereum (ETH) Show Growth in Quiet Conditions
This week, Bitcoin has seen a minor increase in demand and price. The longer-term picture is still unfavorable even though it appears to be slightly more positive in the short term.
Weekly Forecast for the British Pound (GBP): NFP Beat Positions GBP for Further Decline
After NFP numbers that were greater than anticipated contributed to dollar strength, the pound appears to start next week on the defensive.
USD/CAD Rate Outlook: Depending on the Bank of Canada’s (BoC) rate decision
Due to expectations that the Bank of Canada (BoC) will normalize monetary policy more quickly, USD/CAD may experience a greater correction prior to the announcement of interest rates.
Technical Analysis of the US Dollar: Nearing a Temporary Tipping Point
Despite a mostly positive NFP report on Friday, the dollar reversed course, and some weakness in the coming days appears inevitable.
S&P 500, Nasdaq 100, and Dow Jones Prediction for the Upcoming Week
Stocks increased throughout the first week of July, and the trend continued despite positive NFP data. The CPI will be released next week, and the earnings season will begin the next week.
Technical British Pound Prediction: GBP/USD Has a Difficult Week Ahead
The British pound dropped against the US dollar for a second consecutive week, hitting a new multi-year low. There may be a rebound, but the likelihood of a trend reversal appears low. Where is the GBP/USD going?
Technical Gold Price Prediction: Gold Drops into Last Line of Defense
With XAU/USD now testing multi-year uptrend support, gold fell by more than 3.8 percent this week. War lines have been drawn. levels on the weekly technical chart that are significant.
Weekly Technical Prediction for Crude Oil: US Crude Tests Major Levels
Oil prices have recovered from recent lows as bears were unable to lower prices below $93.5, the level of Fibonacci support. Key technical levels are still stable.
Forecast for the Yen for the Upcoming Week: USD/JPY, AUD/JPY, EUR/JPY, and GBP/JPY
In comparison to the US dollar, Australian dollar, euro, and pound sterling, the Japanese yen is beginning to exhibit some resiliency. Where should I trade USD/JPY, AUD/JPY, EUR/JPY, and GBP/JPY this coming week?
All information has been prepared by TraderFactor or partners. The information does not contain a record of TraderFactor or partner’s prices or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may read it. Past performance is not a reliable indicator of future performance.