This is a weekly outlook, explaining the key fundamentals driving the markets and the key technical levels to watch in the coming week for US30, Gold, and GBP/JPY.
This analysis and any provided information can be used only for educational purposes. SharmaFX is not a professional financial institution nor provides any financial services. SharmaFX does not provide any financial advice, investment advice, or trading signals. SharmaFX is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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AUD/USD gains appear capped below 0.6600 amid Mid-East escalation
AUD/USD stays firm in Monday's Asian session but the upside appears capped below 0.6600 due to escalating geopolitical tensions between Iran-backed militant groups and Israel. The pair draws support from the hawkish RBA outlook, as the focus now shifts to the US CPI later this week.
USD/JPY pares gains below 147.00 as geopolitical risks loom
USD/JPY attracts some dip-buyers on the first day of a new week, albeit struggles to find acceptance above the 147.00 mark and capitalize on the move up. The pair pares back gains, as the Japanese Yen sees haven demand amid a cautious market mood.
Gold price consolidates in a range, bullish potential intact amid rising geopolitical risks
Gold price struggles to capitalize on recent gains and oscillates in a narrow band during the Asian session on Monday. A generally positive tone around the equity markets is acting as a headwind for Gold price.
Key Bitcoin metrics to watch out for ahead of next week following market sell-off
Bitcoin could be set for an interesting week ahead as it struggles to recover from its largest drawdown in the current cycle. This drawdown was sparked by a series of events, including fears of recession, geopolitical tension in the Middle East, and the Japanese Yen carry trade.
This week worry? Stagflation in a crowded theatre
The recent whirlwind in financial markets can be chalked up to a perfect storm of triggers: geopolitical tensions simmering, the unravelling of the yen carry trade, a dash of US election suspense, and tech sector jitters—all during the typically languid trading of August.