There is a big week ahead for the Forex market, with policy meetings at four major central banks including the US Federal Reserve. Only the Swiss National Bank is expected to announce a change to interest rates - a 0.25% cut.
This week is beginning quietly, but could be a dramatic week in the Forex and other capital markets for two major reasons:
There will be four major central bank meetings, concerning the USD, the JPY, the GBP, and the CHF.
The US-centered trade war continues with no end in sight. The new tariffs are still in force, and we do not seem to be near any agreements to change them. This is acting as a chill on stock markets and other risky assets, especially in the USA.
- Gold
is very much in focus after it made a bullish breakout last Friday into record blue sky territory, trading at a new all-time high above the big round number at $3,000. The price is now trading back below that level, but is not very far from the high and remains bullish. Trend and momentum traders will be interested in being long here.
In the Forex market, the New Zealand Dollar has been the strongest major currency since today's Tokyo open, while the Japanese Yen has been the weakest.
The USD/JPY currency pairis also in focus, as if it closes below ¥147.26 there will be a valid long-term trend trade entry on the short side.
There is a high-impact data release scheduled for today in the USA: Retail Sales data