Sunday, April 30, 2017 4:05 AM EDT
Financial markets' cheery mood after the first round of France's presidential election will be tested as Fed decision-makers issue a verdict on the world's largest economy.
US Dollar Forecast: US Dollar at Risk as Fed Decision-Makers Reconvene
The road ahead may prove challenging for the US Dollar after it enjoyed its best week yet in 2017 as all eyes turn to the Federal Reserve monetary policy announcement.
Japanese Yen: Disappointing Data Add to Downside Pressure
As predicted here a week ago, the Japanese Yen declined last week and there’s little sign yet that the trend is about to change.
Canadian Dollar Forecast: The Loonie Lacks Wings
The Canadian dollar is the worst performing G10 currency in April, with USDCAD at its highest since February 22 2016.
British Pound Forecast: Hawkish Fed, Strong NFP to Tame GBP/USD Recovery
The relief rally in the GBP/USD exchange rate may gather over the days ahead as it breaks out of a near-term holding pattern
Australian Dollar Forecast: Australian Dollar Faces Nervy Week Despite Central Bank Inertia
The Australian Dollar has been weakening against its US counterpart since mid-March. That trend will probably endure this week, but may not worsen.
Gold Forecast: Gold Prices Slide as Market Jitters Subside- FED / NFPs to Steer
Bullion looks to close the month higher by nearly 1.4% as weakness in the greenback and renewed geo-political tensions fueled demand.
Chinese Yuan Forecast: Yuan Eyes on Chinese PMI, More Weakness Likely
The USD/CNH continued to consolidate in a range this week; it failed to set a lower low or a higher high. Looking forward, event risks could add volatility to the pair.
Equities Forecast: S&P 500 Has Eyes for New Highs, DAX Too
Looking ahead, Monday may be relatively quiet with major financial centers in Europe closed for holiday.
Disclosure: Have a question about trading the US Dollar?
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Disclosure: Have a question about trading the US Dollar? Join a Q&A webinar and ask it live! Check Out the DailyFX Guides for Additional Trading Ideas
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Paul conducts webinars geared towards equity indices and commodities every Tuesday, for details see the Webinar Calendar
Join me on Mondays at 7:30 EDT/11:30 GMT for the FX Week Ahead webinar, where we discuss top event risk over the coming days and strategies for trading FX markets around the events listed below. What will drive the US Dollar trends through June? See our forecast to find out!
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