Oil prices expected to continue rising. Gold could correct in the short term. Euro/Dollar outlook uncertain, dependent on upcoming data. Here’s your Market outlook for today:

This week looks to be relatively quiet in terms of data releases and market activity, providing investors with a chance to catch their breath and focus on analysis and forecasts. However, there are still some key events to watch out for:

Compared to the busy previous week, this week’s economic calendar is lighter, offering investors a chance to catch their breath. However, several key events could still impact markets, particularly on Tuesday and Thursday.

Get ready for a packed week in the financial markets! This week brings a mix of central bank updates and crucial data releases that could impact asset prices. Here’s a breakdown of what to expect:

The Reserve Bank of Australia’s monetary policy stance could support the Australian dollar. The Federal Reserve’s plans to cut rates to 4.75% in 2024 are creating a discrepancy between investor views and FOMC forecasts. The US dollar remains strong despite a recent decline. The future of the EUR/USD pair depends on upcoming economic data.

The US dollar is strengthening on strong economic data and hawkish Fed expectations. Major currencies like EUR, AUD, and CAD are facing headwinds from the dollar’s strength; reflecting weaker economic outlooks and potential for delayed rate cuts.. Key economic data releases this week will be crucial for the near-term direction of major currencies.

The markets take a breather after the Fed frenzy, but there’s still key data to watch, especially the US PMI and RBA decision. Focus on employment data and any clues on future monetary policy.

The overall outlook for the Forex market appears to be bearish for the Euro and Pound, and cautious for the Australian Dollar, while the US Dollar is expected to gain strength. Here’s a summary of the key points:

The direction of major currency pairs like USD/JPY, GBP/USD, and EUR/USD will be heavily influenced by central bank meetings and key economic data.

The global market remains cautious as investors await key economic data and central bank decisions. The euro and pound face uncertainties, while the Aussie and yen show resilience. Technical analysis suggests potential breakouts in both EUR/USD and GBP/USD.