Weekly Forecast

General information purposes only. Goldium FX does not provide investments advice.

USD/CAD Weekly Forecast Jan 19 – Jan 23, 2015

Over to the USDCAD pair maintaining that upward momentum last week as it broke 1.2000 handle and headed to a high of 1.2045, a brief decline to 1.1800 prior taking flight has set 1.1800 to hold firm as support, and expecting more further hawk rallies is likely.

Canada gloomy as big retailers set to close and plummeting oil prices, recession lurking for Alberta, and the Canadian Natural Resources cutting $2.4 billion of spending for 2015, the Canadian economy appears to be swimming in murky waters, upcoming interest rates announcements from the Bank of Canada will have all market participant’s attention, what they say could cause further decline for the CAD. Midweek the USD soften on the back of declining Retail Sales data and poor wage growth, a swift recovery as market optimism from consumers off set the weaker spending, economist are expecting the Federal Reserves to increase… READ FULL FORECAST

EUR/USD Weekly Forecast Jan 19 – Jan 23, 2015

This past week has be dominated by major market volatility, headlining with the Swiss National Central Bank unexpectedly removing the EURCHF cap of 1.2000 causing major market uproar and setting forex history with record lows for the pair descending to under parity.
Meanwhile the USD increasing to 12-year high against the EUR, as markets expecting the ECB to inject fresh monetary easing this upcoming this week, China also set to release GDP, as Bank of Canada and the Bank of Japan will hold schedule monetary policy meetings. These significant events are shaping up to only just the begin of more volatility.
As the news of the Swiss National Bank shock the EURCHF trading pair sending the pair under parity a record low, a number of large Forex brokerage firms where not spared in this casualty including USA largest forex currency brokerage, FXCM… READ FULL FORECAST

GBP/USD Weekly Forecast May 12 – May 16, 2014

A volatile week for the GBPUSD pair last week, also almost reaching the key 1.7000 line, than only to decline rapidly and closed the week off recording a minor loss, at 1.6845. This week’s major events are Claimant Count Rate, Employment Change and the Bank of England Inflation Report.

The Sterling did benefited off some stronger Services PMI figures coming in at 58.7 vs. expected at 57.8 and the pair was able to reach higher early week, but then was offset by softer Industrial Production… READ FULL FORECAST

USD/JPY Weekly Forecast Jan 19 – Jan 23, 2015

The USDJPY could be headed toward a correction this week major events highlighted with the BOJ Monetary Policy Statement, taking on a more neutral stance confidences remain in achieving the 2% benchmark of inflation target, citing the recent decline of energy prices, support from larger current account surplus and gains in Core Machinery Orders rein the short term forecast of inflation, positive news for Japan after increasing asset program unexpectedly during October 2014 meeting, the BOJ is expected to maintain current policy at January 22 meeting, and with the relief of a minor recovery for the economy the BOJ will continual to adopt the wait and see approach for 2015. The USDJPY pair still faces risk of market pullbacks stay tune to next upcoming FOMC meeting… READ FULL FORECAST