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The Euro and British Pound cautiously weakened last week amid a stronger US Dollar. This also meant gold underperformed. Ahead, all eyes turn to US CPI and UK GDP.
The US Dollar mostly outperformed this past week as the Euro and Japanese Yen fell. Ahead, eyes are on the RBA for the Australian Dollar and US non-farm payrolls data for the Dow Jones.
Gold, the Nasdaq 100, EUR/USD and GBP/USD all soared this week, while the US dollar broke down after US CPI data surprised to the downside. Traders should keep an eye on whether recent market moves can be sustained as the US earnings season gets underway.
Financial markets remained resilient in the wake of a resurgence in hawkish central bank bets during the second quarter. Will this momentum hold in the third quarter?
Market dynamics could change and become hostile for some assets and friendlier for others in the coming months as major central banks extend their tightening campaign. Check out DailyFX team's trading forecasts for the third quarter.