Weekly Market Review - Eaglesinvestors Market Watch

Weekly market review full of macroeconomic news that pushed currency pairs in all direction. That said, every Friday we are analyzing the data and build a trading strategy for the next week.

The most traded currency was the US dollar against all its pairs and it looks like next week won’t be any different.

EUR/USD weekly market review

Weekly Market ReviewThe Euro appears to be relatively stable against the US dollar within the Asian trading session today. Traders are profiting from the confident euro rally throughout this week.

The US dollar continues to be in demand by investors, even with a poor macroeconomic publication of data.

In addition to our weekly market review rumors have it that the meeting between US President Donald Trump and Chinese President might be delayed. The possible completion of the US-Chinese trade wars has been declining, and the White House economic adviser, Larry Kudlow, stated that the countries are far from agreeing upon a deal.

Macroeconomic releases from Europe are, like always weak and inconclusive. However, the ECB’s economic bulletin, states that growing external negative factors lead to an increase in risks for the economy. Economic indicators show negative movements, but, in the near future, a slowdown in economic growth is expected. The growth forecast for 2019 was analyzed from a previous +1.9% to +1.3%.

GBP/USD Weekly Market Review

Weekly Market ReviewThe pound against the US. dollar is trading in both directions with an average of 120 pips. However, the pound reacted instantly to all publication from the Bank of England. That said, GBP/USD showed a slight increase in the afternoon session and slightly correcting after declining throughout the week.

BOE left the interest rate untouched at 0.75%, also, the regulator did not change other monetary policy. The weekly market review points to maintain the volume of the bond purchase program at 435B pounds.

The Bank of England forecasts a lower economic growth for 2019, by 0,5% however all can change because of Brexit.

The negotiation between British PM Theresa May and EU leaders regarding the Brexit agreement on the Irish border will instantly impact the pound.

Weekly Market Review for AUD/USD

Weekly Market ReviewThe Aussie points to a downtrend with strong support at 0.7000 line. AUD/USD seems to be under pressure from the RBA meeting minutes. RBA data points to negative economic growth for this year of only +0,55%. However, our weekly market review points to growth by the end of the ear to +2,75% and a significant inflation reduction.

Consumer Price Index might slow down by +0.60%, slowly recovering to the target level of 2% by mid-2020.

USD/JPY Weekly Market Review

Weekly Market ReviewThe US dollar is currently traded lower against the Japanese yen and the assets behavior is quite low. Japans publishments today did not have a noticeable effect on the dynamics of the pair.

Japan Household Spending rose by 0.1% YoY in December 2018 and started to decline by 0.6% YoY since last month. Analysts have expected a more active growth of +0.8% YoY. The Average Cash Earnings indicator, points to the average pre-tax income of an employee, increased by +1.8% and accelerating by 0.1% since last month.

Gold

Weekly Market ReviewGold prices are consolidating after the decline from the beginning of this week. similarly, the previous day, prices started to slowly increase. The weekly market review points to the departing from local lows and increased uncertainty because of the trade war.

With mix data from across the globe, gold might trade flat next week, but allot of fresh macroeconomics are yet to be announced.

Hopefully, by the end of the next weekly market review, Gold will trade higher. I hope the bullet points of today’s article will help you form a strategy for the next week trading session.

Like always I wish you Happy trading and Every Success!

 

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