Catch up on the latest weekly trends in forex, crypto, and indices. Key levels to watch and what could move markets next.
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The GBP/USD went into the weekend near the 1.35575 as financial institutions have braced for what will prove to be a significant handful of days ahead for the currency pair and the broad Forex market.
Weaker than expected US PPI data sent the major US stock market indices and the precious metals Gold and Silver to new record highs.
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WTI Crude Oil has gone into the weekend near the 62.150, and this feels like a rather solid accomplishment considering the loud highlights which took place over the past handful of days.
Explore this week’s forex forecast: GBP/USD at 1.36, Bitcoin eyes $120K, Fed decision looms. Key levels, sentiment & setups to watch.
Weaker than expected US jobs data sent the major US stock market index the S&P 500 and the precious metal Gold higher to trade at new record highs.
The EUR/USD went into the weekend near the 1.17155 ratio, this after touching lows around the 1.16075 value on Wednesday.
WTI Crude Oil futures pricing fell below 62.000 USD on Friday, and when the commodity opens for trading on Monday large players will have to decide if now is the time to look for reversals higher.
USD/CHF may test 0.79 as Swiss franc gains strength. Sellers dominate on rallies.
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Stronger than expected US Advance GDP data sent some equity indices briefly higher, but it was a quite and indecisive week in most markets, as we still await the start of September and the return of normal liquidty.
The GBP/USD went into this weekend near the 1.35047 mark, which is below where the currency pair found itself the prior weekend, and tomorrow’s price action will see lighter volume due to the U.S holiday weekend.
Bitcoin breaks $110K, gold eyes $3800. DAX, USD/JPY, and major FX pairs show caution as volatility looms into early September.
WTI Crude Oil went into the Labor Day weekend near the 63.555 price, almost matching where the commodity finished the previous week of trading.
Jerome Powell’s dovish speech on a September rate cut last Friday saw markets turnaround, with the major US equity index again poised to challenge its record high if the bullishness is sustained into the coming week.
The GBP/USD went into this weekend near the 1.35275 ratio, this after touching the 1.33910 vicinity early on Friday.