This week promises to be a pivotal one for the US dollar, with key data releases and central bank decisions on the horizon. The market is waiting to see if the recent slowdown in US inflation will continue, potentially paving the way for Federal Reserve rate cuts later this year.
Dollar Outlook:
- Dollar faces a test due to possible slowdown in US inflation.
- Key data release: January CPI data.
- If inflation slows down, market may expect Fed rate cuts, weakening the dollar.
Yen Outlook:
- End of negative interest rates in Japan likely, but slowly.
- USDJPY may reach target of 150.1, 151.2 on unexpected US inflation acceleration.
NZD/USD:
- Rate cut expectations for New Zealand may be pushed back due to hawkish RBNZ stance.
- Key data release: Inflation expectations on Tuesday.
GBP/USD:
- Market awaits comments from BoE Governor Bailey for clues on future rate path.
- Key data release: Employment report on Tuesday.
AUD/USD:
- Consumer and business confidence data expected to show improvement.
- Weak global demand and China slowdown weigh on sentiment.
Oil Price Forecast:
- Sell at resistance zone 76.89-76.40. Target: 71.56. Stop Loss: According to pattern rules.
- If resistance is broken and price closes higher, buy with target in trend border 82.34-81.35.
Gold Price Forecast:
- Hold sell trades at resistance 2037-2035. Target: 2011. Stop Loss: 2040.
- If resistance is broken and price closes higher, buy with target in trend border 2070-2064.
Euro/Dollar Forecast:
- Sell at resistance zones 1.0815-1.0806 and 1.0861-1.0848. Targets: 1.0742, 1.0725. Stop Loss: According to pattern rules.
Bitcoin, Ripple, and Ethereum Forecasts:
- Buy Bitcoin at 48396.81, target 52500.00.
- Buy Ripple at 0.521, target 0.618.
- Buy Ethereum at 2505.70, target 2744.00.
Categories: ARFX News
