In the week of September 9-13, 2024, let’s take a look at the forecast for some major currency pairs and gold.
1. DXY (US Dollar Index): The DXY is expected to remain relatively stable this week as investors await key economic data releases. Any surprises in the data could lead to volatility in the index.
2. EURUSD: The EURUSD pair is likely to face some pressure as concerns about the Eurozone economy persist. Keep an eye on any developments in the ongoing trade tensions between the US and the EU.
3. GBPUSD: Brexit uncertainty continues to weigh on the GBPUSD pair. Traders should watch out for any news related to Brexit negotiations as it could significantly impact the pair’s movement.
4. AUDUSD: The AUDUSD pair is expected to be influenced by the Reserve Bank of Australia’s interest rate decision. Any hints of a rate cut could weaken the Australian dollar.
5. XAUUSD (Gold): Gold prices are likely to remain supported by geopolitical tensions and trade uncertainties. Keep an eye on any developments in the US-China trade talks as they could impact the safe-haven appeal of gold.
Overall, traders should stay informed about key economic events and news releases that could impact these currency pairs and gold prices throughout the week.