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The election results in France which will be seen late tonight and into Monday morning, this will likely impact the EUR/USD.
The commodity essentially closed near values it tested from Monday until Thursday of last week.
Get the weekly Forex forecast for major currency pairs for the week of July, 01-06, 2024 here.
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The GBP/USD did ebb higher starting last week and managed a high around the 1.27405 mark on Wednesday.
Last week saw US stocks reach record highs before falling off as the US Dollar advanced. The Forex market was dominated by a weak Japanese Yen and Swiss Franc.
Buyers remained rather strong in WTI Crude Oil last week and a high of 81.750 was seen on Friday.
Get the weekly Forex forecast for major currency pairs for the week of June 24-29, 2024 here.
Weekly Market Forecast: Key pairs in focus include Bitcoin, WTI Crude, AUD/USD, NASDAQ 100, EUR/GBP, USD/CAD, GBP/USD, and CAC 40. Trade smart, stay updated!
WTI Crude Oil traded higher last week and finished near the 78.440 USD price going into the weekend, the commodity extended gains which essentially started on the 4th of June.
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Since the 7th of June the EUR/USD has seen volatility spike as its price range has whipsawed and created dangerous trading conditions for the currency pair’s speculators.
Last week saw stocks advance on lower US CPI data despite a still-cautious Fed, while the Forex market is dominated by a weak Euro and Japanese Yen.
Reactionary trading hit the GBP/USD on Friday when the Non-Farm Employment Change numbers came in stronger than anticipated.
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The ability of WTI Crude Oil to selloff with greater price velocity last week likely didn’t come as a surprise for many traders who have been paying attention to the commodity.
Get the weekly Forex forecast for major currency pairs for the week of June 10-15, 2024 here.
The EUR/USD finished trading comfortably above the 1.08000 level this Friday, this as the currency pair and speculators await the European Central Bank’s rate