New York, US (BBN) – A meeting between US and Chinese Presidents Donald Trump and Xi Jinping may overshadow a steady stream of top-tier economic news in the week ahead.
US DOLLAR FORECAST: TRUMP, XI MEETING MAY DERAIL DATA-DRIVEN TRADE
The US Dollar is trying to return to more “normal”, data-driven trade but a meeting between US President Trump and his Chinese counterpart Xi Jinping may complicate matters, reports Daily FX.
BRITISH POUND FORECAST: GBP/USD UNFAZED BY BREXIT TRIGGER; MORE FED RHETORIC, NFP ON TAP
Despite all the anticipation surrounding ‘Brexit,’ the British Pound is little changed even as the UK officially triggers Article 50 of the Lisbon Treaty.
JAPANESE YEN FORECAST: BANK OF JAPAN HOLDS THE ACCOMMODATIVE LINE WHILE INFLATION REMAINS SUB-2 PER CENT
After a rather consistent run of weakness against the Greenback in the month and a half after the start of the ‘Trump Bump’, USD/JPY combined sideways price action with a slight bearish bias to continue the retracement-lower that started in the first week of this year.
AUSTRALIAN DOLLAR FORECAST: AUSTRALIAN DOLLAR WILL HAVE TO LET ITS US COUSIN DRIVE
The Australian Dollar remains quite close to its 2017 peaks against its US counterpart, but it’s hard to see what might make it break out either way this week, assuming all goes as forecast.
CHINESE YUAN FORECAST: YUAN EYES ON US-CHINA LEADERS’ FIRST SUMMIT
The offshore Yuan continued to consolidate against the US Dollar this week and remained stronger than PBOC’s guided levels.
GOLD FORECAST: GOLD HINDERED BY DOLLAR REBOUND
Last week, gold prices rallied for a second consecutive week with the metal up more than 1.56 per cent to amid continued weakness in the Greenback, owing to increasing hesitancy over the so-called ‘Trump trade’
OIL FORECAST: OPEC EXTENSION CONFIDENCE GIVES OIL BEST WEEK OF 2017
The beginning of Q2 is setting up to be important for Oil traders to watch given what’s happening behind the price, which could determine if Crude Oil turns lower or much higher over Q2.