The week ahead could well be a volatile one as traders brace themselves for an onslaught of data and events that will clearly shape sentiment for the week.

The big economic data points are both out of the US with the FOMC Interest Rate Decision and also the US employment report.

The first FOMC meeting of the year is not expected to bring any changes to official interest rates. However, all the attention will be on how the newly dovish Jerome Powell, will signal what lies ahead in 2019.

Meanwhile, markets are expecting 165K new jobs created for the month when the non-farm employment number rolls in. Despite many issues in the economy, the jobs market remains a pillar of strength. Another strong result will back up the massive result we saw last month.

Internationally, there is also hopes of more progress between the US and China on trade. While the Brexit will continue to make headlines as PM May continues to try and strike a deal with the pesky UK Parliament.

Forex Signal Update

The FX Leaders Team finished the week with 11 winning signals and 7 losses, for a 61% win rate. It was another good one for the guys and the added volatility has been a real bonus in recent weeks.

Oil – Pending Signal

UK Oil continues to hold above the all-important $60 level and so far the rebound is holding. It is quite clear that the correlation between oil and the S&P 500 is high at the moment. With global growth concerns driving the lagging demand side of recent times.

While oil remains above support we need to look for bullish opportunities, but should it fall, then the short side will open up.

Gold – On Watch

Gold has taken out the very important 1300 level. We are now looking to see support hold and if there will be any potential follow through. Given the huge amount of buying the initial move took I would expect a period of consolidation before a further rally.

Cryptocurrency Update

Bitcoin remains under $3,600 and above the $3,500 mark. There has been a little bit of weakness over the weekend but the range still remains tight.

So far in Asian trade, price is starting to dip back below $3,500 and we will wait to see if this is finally the break to the downside that we’ve been looking for, since the failed BTC ETF news of last week.