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Weaker than expected US jobs data sent the major US stock market index the S&P 500 and the precious metal Gold higher to trade at new record highs.
The EUR/USD went into the weekend near the 1.17155 ratio, this after touching lows around the 1.16075 value on Wednesday.
WTI Crude Oil futures pricing fell below 62.000 USD on Friday, and when the commodity opens for trading on Monday large players will have to decide if now is the time to look for reversals higher.
USD/CHF may test 0.79 as Swiss franc gains strength. Sellers dominate on rallies.
Stronger than expected US Advance GDP data sent some equity indices briefly higher, but it was a quite and indecisive week in most markets, as we still await the start of September and the return of normal liquidty.
The GBP/USD went into this weekend near the 1.35047 mark, which is below where the currency pair found itself the prior weekend, and tomorrow’s price action will see lighter volume due to the U.S holiday weekend.
Bitcoin breaks $110K, gold eyes $3800. DAX, USD/JPY, and major FX pairs show caution as volatility looms into early September.
WTI Crude Oil went into the Labor Day weekend near the 63.555 price, almost matching where the commodity finished the previous week of trading.
Jerome Powell’s dovish speech on a September rate cut last Friday saw markets turnaround, with the major US equity index again poised to challenge its record high if the bullishness is sustained into the coming week.
The GBP/USD went into this weekend near the 1.35275 ratio, this after touching the 1.33910 vicinity early on Friday.
The price of WTI Crude Oil finished last week with higher prices going into the weekend near the 63.470 level, this after touching a low around 61.430 on Monday the 18th of August.
Major markets react to Powell’s Jackson Hole speech. Explore key levels and trends in forex, crypto, gold, and indices for the week of Aug 28.
The EUR/USD has gone into this weekend near the 1.17025 mark, this after buying returned in force after a momentary push lower on Thursday in the wake of contradictory U.S inflation numbers.
The price of WTI Crude Oil futures went into this weekend near the 62.100 ratio, having produced results which remain near important short, near and mid-term lows.
This week’s forecast covers Bitcoin, NASDAQ, gold, silver, and key currency pairs as markets show signs of exhaustion and await September flows.
