Forex markets will be hoping that the recent trade wars get brushed to the side as we go into a week where we’ll be getting some key data out of the US and Europe. Friday ended with more excitement thanks to US President Donald Trump threatening a 20% tariffs on European cars. Which markets didn’t take kindly to.
This week there will be a fair bit of attention on US GDP, scheduled for release on Thursday. If you recall, we recently put in a strong retail sales figure, which has heightened expectations of a strong number here.
Some of the other key events include Eurozone CPI, UK GDP, the meeting of the RBNZ and the EU Leaders Summit. There’s plenty going on this week and as we’ve seen, these data points can really rock forex markets.
Forex Signal Update
The FX Leaders team ended last week virtually square. The majors did a bit of a turnaround and conditions were tricky on Friday. If the USD comes back this week, then the opportunities will certainly be available.
GBP/JPY -The GBP/JPY continues to make lower highs and the trend is down. Just waiting for the right price to be selling.
Bitcoin – BTC broke below $6,000 after a raft of selling on some negative news. The market is in play so keep an eye for opportunities here.
EUR/GBP – Active Signal
The EUR/GBP has been good to us recently thanks to what has been a tight range. In essence, we’ve been shorting these spikes and they have found their way back to the middle of the range. Let’s hope this one can do the same. The profit target is at 0.8745.