US Fed, ECB and BoJ interest rates in focus, Gold (XAU/USD) lower on stronger USD [Video]
|Yes, gold is lower based on a stronger USD and we will look at this from the technical side tomorrow.
We see weaker Gold and USD strength during the last week but this will be a key week with economic news.
The USD is stronger based on expectations of an Interest Rate rise of 0.25% this week.
Hours later, we expect the same rate change in Europe and, as usual, we expect the Bank of Japan to do absolutely nothing.
Don’t forget to watch the press conferences after each announcement as investors will be looking for clues for the next moves.
JPY is weaker again after the Bank of Japan decided to do nothing about bond yields.
You would think that JPY would be the weakest currency right now but it seems to be tied with NZD.
We will look at this from the technical side tomorrow.
Last week’s UK better-than-expected inflation report caught everybody by surprise and the GBP is finally getting weaker as the BoE may not have to raise Interest Rates next time.
We also see some technical opportunities on GBP and we will look at these tomorrow.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.