Markets had a really busy week and it looks like it might be more of the same for the next five days. Again, it appears to be the trade tariffs causing more market jitters as the US President appears ready to fire off even more at China.

Over the weekend it was suggested Trump could tax the entire value of Chinese exports to the US. Which is more than $500 Billion. A move that would certainly hit Chinese GDP hard and have a flow-on effect to many markets worldwide.

Last week ended strongly for the USD thanks to a better than anticipated employment report and improved wage growth. Equities weren’t so lucky and have been slowly selling off, led by the big tech names.

Looking to the week ahead, there are a number of important events we are going to have to keep a close eye on. We have the ECB and BOE interest rate decisions. Which might not have too much in the way of new information to work with. While the US has CPI, PPI and Retail Sales, which are likely to spark the Greenback.

On Monday the main data will be out of the UK with GBP and Manufacturing Production the two top-tier events to get the week underway.

Forex Signal Update

The FX Leaders Team had one of the best weeks for the year, pulling in 20 winners with only the 5 losing trades. A great effort, which was helped by plenty of volatility ramping up in markets.

Gold – We are still around the 1200 level but the longer-term downtrend is in place. Watch 1190 today as it will be important.

EUR/CHF – The EUR/CHF is moving sharply lower and 1.1200 is support. If it cracks look for another flush lower.

Bitcoin – Active Signal

Bitcoin continues to show some weakness as it approaches the $6,000 level. All buying is being met with sellers stepping up strongly. Hopefully, $6,000 can hold.

DAX – Pending Signal

The DAX continues to fall away. The move has really been led by Wall Street where the NASDAQ, in particular, had one of the poorest weeks in a long time. We have support below so that might either be an area for a bounce or a good target.