US Confidence, BoE Decision, Non-Farm Payrolls
Data This Week:
Tuesday: US Consumer Confidence Index.
Wednesday: Australia’s inflation rate.
Thursday: BoE interest rate decision.
Friday: US Non-Farm Payrolls, India’s interest rate decision.
Major Pairs
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EUR/USD: Last week, the euro showed some strength against the dollar, bouncing back from recent lows. This week, traders will be focusing on the Fed’s meeting and US economic data for direction.
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GBP/USD: The pound is holding steady against the dollar, traders will watch for the BoE’s rate decision later this week.
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USD/JPY: The dollar yen pair saw some volatility, largely driven by fluctuations in US Treasury yields. The upcoming US jobs report and the Fed’s interest rate decision could be key drivers for this pair in the days ahead.
Commodities:
Oil: Oil prices climbed modestly last week amid concerns over supply and geopolitical tensions. Expect the OPEC+ meeting Thursday that could move prices.
Gold: Gold held its ground amid economic uncertainties and steady demand. Investors will be watching for any shifts in Fed policy, especially after the interest rate decision, which might impact gold prices.
Political and Economic News:
Discussion: US politics—The infrastructure plan by President Biden remains in the eye of the storm and debates in Congress are only getting heated. Any progress could have ripple effects on the markets.
The global scene: Tensions between China and the US stay in the front line, with ongoing trade discussions and tech sector restrictions.