The US Dollar seesawed last week, reflecting the competing influence of fundamental cross-currents. Risk sentiment consistency may be needed for a lasting trend.
The Japanese Yen and US Dollar are aiming to continue higher as soft data out of the US and China stoke global slowdown worries and sour market sentiment.
Crude oil prices may turn lower as worries about slowing global growth weigh on cycle-sensitive assets but US consumer confidence data may offer a lifeline.
The Euro is looking to revised Eurozone GDP data having shrugged off disappointing performance in Germany. The US Dollar may rise if retail sales data tops forecasts.
Gold prices continue to pressure chart support guiding the uptrend from November as investors eye US retail sales data. Crude oil prices’ resilience may be challenged.
The British Pound may shrug off UK CPI while the US Dollar gains on analogous local data. The Euro may turn lower anew after yesterday’s brisk recovery.
Crude oil prices may look through incoming IEA and DOE statistical releases to focus on sentiment trends. Gold prices are eyeing January’s US CPI report.
The anti-risk Yen fell while the Aussie Dollar rose with stocks on hopes for a US budget deal avoiding another government shutdown. Potent headwinds loom ahead however.
Gold prices may fall if US officials avoid another government shutdown, boosting bond yields alongside risk appetite. Crude oil prices may struggle for direction however.