Weekly forex forecast: All eyes on FOMC [Video]

Forex pairs & markets covered in this week’s Weekly Forex Forecast & Forex Analysis:

USD (DXY), EUR, GBP, CHF, JPY, CAD, AUD & NZD.

EURUSD, EURJPY, GBPUSD, AUDUSD, NZDUSD, NZDCHF, NZDJPY, Crude Oil (WTI), CADJPY, AUDJPY, GBPCHF, GBPJPY, EURCHF, SPX (S&P 500), Russell 2000, Nasdaq, Dow Jones, Nifty, XAUUSD (Gold Analysis), XAGUSD (Silver Analysis), BTCUSD (Bitcoin Analysis) & more!

Weekly notes

All eyes are focused on todays FOMC meeting in what is a busy week for economic data.

Recent Inflation data out of the US will increase the pressure on the FED to strike a Hawkish tone in todays meeting. With US Consumer, Manufacturing and Services data coming out strong recently in the US, this may give the FED additional confidence to turn up the Hawkish rhetoric today. All things considered further upside in the USD remains the next higher probability move.

Conversely, UK GDP and Employment data came out poor recently, adding pressure on the Bank of England to once again delay a Rate Hike in tomorrows meeting. With the GBP scoring as the weakest currency and the best short this week in the Forex complex, it seems the market is also betting on a delayed Rate Hike tomorrow as well.

The AUD and NZD continue to underperform and score as the next best shorts after the GBP this week. Safe haven currencies such as the CHF and JPY remain the highest scoring Longs this week once again.