Weekly Forecast
The EUR/USD pair closes July with modest gains near the 1.1500 mark, adding over 1.1% in the last trading week. Price action throughout the month was dull to say the least as investors remained clueless, although the pair managed to hit 1.1530 ahead of the close.
Gold (XAU/USD) struggled to make a decisive move in either direction as the persistent US Dollar (USD) weakness was offset by a widening conflict in the Middle East. July employment data from the United States (US) could trigger a big reaction in Gold, while the near-term technical outlook highlights a lack of buyer interest.
Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.
The US Dollar (USD) has traded mostly lower throughout the week, briefly testing six-week lows despite prevailing risk aversion, which has been driven by unabated geopolitical tensions in the Middle East. That said, the US Dollar Index (DXY) dipped to the 99.90 zone for the first time since mid-June, just to recover some ground afterward toward the end of the North American session.
Broker Reviews
Find independent, trusted reviews and choose your perfect broker.
Best brokers in your location
Latest Videos
The BoJ Pivot Could Hit Every Risk Asset #Shorts
This Trading Strategy is Boring, But it Can Make You a Lot of Money
Japan’s Bond Yields Are Repricing Everything #Shorts
Carry Trade Explained
The BoJ Pivot Could Hit Every Risk Asset #Shorts
This Trading Strategy is Boring, But it Can Make You a Lot of Money
Japan’s Bond Yields Are Repricing Everything #Shorts
Carry Trade Explained
In-Depth Analysis
The Federal Reserve (Fed), Bank of England (BoE) and Bank of Japan (BoJ) all kept interest rates unchanged this week. Anyone looking at the decisions alone might conclude that monetary policy had entered a quiet period. The message beneath the surface was very different.
Gold (XAU/USD) delivered a masterclass in volatility in the first half of the year, rising more than 20% in the January-February period before entering a downtrend that saw the precious metal lose nearly 30% from March to the end of the second quarter.
