The major currencies are seeing limited movement on Monday with investors awaiting key economic data releases this week. The focus is on central bank policies and interest rate forecasts in major economies. Inflation data and economic activity indicators will also be closely watched. The euro and pound are holding their ground despite mixed economic signals and ongoing speculation about rate cuts. Gold is showing positive momentum and could potentially break […]

Markets are buzzing with anticipation for the Fed’s easing cycle starting in March, fueled by recent data and dovish sentiment. Here’s a quick glimpse at what’s on tap this week:

Global data deluge meets Davos diplomacy: Investors watch for hints on Fed, growth, and dollar path. Important releases from Germany, UK, Canada, China, Australia, and US to add to the mix.

Bank of England’s Bailey in Spotlight: Will He Squash Market Hopes for Early Rate Cuts? Dollar Rules as Fed Hawks Turn Dovish Bets Cold. Aussie Back from the Brink, Shines Amid Cooling CPI. BoJ Holds Steady, Weak Wages Keep Yen Under Pressure

The market is cautious and looking for direction after a volatile start to the year. Key data releases this week, particularly inflation reports, will likely influence future trends.

The strong US dollar rally has started to fade after the December jobs report, with most major currencies showing signs of recovery. The focus remains on the Fed’s next move and potential policy shifts in other central banks.

Gold faces key test at year-end, bulls need to hold above 2069.90 for upside potential. EUR/USD in correction phase, key levels to watch 1.1080 and 1.1120 for direction. GBP/USD expected to fall further before resuming bullish trend, technical correction awaited.

The Japanese yen is gaining momentum on the back of mixed economic data and potential policy changes by the BoJ. The market is closely watching central bank decisions and data releases in both Japan and the US for further direction.

AUD/USD and EUR/USD inch lower as traders await key data releases next week. Mixed sentiment across major currencies as China and eurozone inflation figures take center stage. Risk appetite weighs on major currencies ahead of economic data from China and the eurozone.

Here are the market forecast for major cryptocurrencies this December 27-28, 2023.