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EUR/USD forecast: Currency Pair of the Week – December 9, 2024

Ahead of key macro events, the EUR/USD forecast remains modestly bearish, although the currency pair has found some love today thanks to optimism about more stimulus measures being introduced in China, one of the Eurozone’s major exports destinations.

Currency prices

USD/JPY forecast: Currency Pair of the Week – December 2, 2024

With a jam-packed calendar this week, including, ISM Manufacturing and Services PMIs, the closely watched JOLTS Job Openings report, and the monthly Non-Farm Payrolls report to come, traders are bracing for volatility. These data points are expected to influence the USD/JPY forecast, especially with both the Fed and BoJ policy decisions looming in December.

Forex trading

EUR/USD forecast: Currency Pair of the Week – November 25, 2024

The slight cooling of the so-called "Trump Trade," characterised by a strong dollar (and a Bitcoin rally), may not last very long. For now, though, traders are adjusting their expectations somewhat and scaling back hopes for aggressive tax cuts and tariff hikes. It is far too early for us to drop out bearish EUR/USD forecast.

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EUR/USD Forecast: Currency Pair of the Week – November 18, 2024

This week, there is not much in the way of US data, but global PMIs on should cause some volatility. The EUR/USD forecast remains bearish, and we continue to expect an eventual breakdown below the $1.05 handle.

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GBP/USD Outlook: Currency Pair of the Week – November 11, 2024

This week, inflation data from the US and GDP data from UK will be crucial. With last month’s US CPI outpacing expectations at 2.4% year-over-year, markets remain attentive to signs of persistent inflation.

Market trader analysing data

GBP/USD outlook: Currency Pair of the Week – October 7, 2024

The GBP/USD is among the major forex pairs to watch this week. After a blowout US jobs report, the market has dropped its calls for another 50 basis point rate increase from the Fed. While key inflation figures this week could provide some short-term volatility, the Fed’s focus has moved on from inflation. Therefore, beyond some short-term volatility, this should not really change the picture for US interest rates pricing and the dollar.

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GBP/USD outlook: Currency Pair of the Week – September 30, 2024

While the broader US dollar trend remains bearish, the GBP/USD outlook is not so certain. With much of the dollar weakness already factored in, a pullback in the cable could be on the horizon as we approach this week’s US employment data.

Market trader analysing data

AUD/USD forecast: Currency Pair of the Week - September 23, 2024

Unless the RBA is surprisingly more dovish than expected at its meeting on Tuesday, Aussie CPI comes in well below expectations on Wednesday, or we see a sharp reversal in risk appetite, the path of least resistance will remain to the upside, in line with our continued bullish AUD/USD forecast.

Multiple Euro bank notes in 20€, 50€ and 100€

EUR/USD forecast: Currency pair of the Week – September 9, 2024

This week brings key data releases from around the world, including the latest US inflation report and along with a rate decision from the European Central Bank. After last week’s jobs data, we continue to hold a bearish outlook on the dollar ahead of the upcoming CPI release.

Market trader analysing data

USD/CAD forecast: Currency Pair of the Week – September 2, 2024

The Loonie is our featured currency pair this week, for not only do we have significantly important data from the US, but there’s also a rate decision across the northern border in Canada.

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GBP/USD forecast: All eyes turn to Jackson Hole and PMIs

In the week ahead, the economic calendar is quieter. Aside from the global PMIs on Thursday, we don’t have much else that could drastically move asset prices. So, it could be a long wait until we potentially hear something meaningful from the Fed and other central bank officials at the week’s marquee event: the Jackson Hole symposium on Friday.

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GBP/USD forecast: Currency pair of the week - August 12, 2024

The cable is facing a key test this week with inflation and retail sales data to come from both sides of the pond. Market volatility has died down and the US dollar has fallen against the high-beta commodity dollars and risen against low-yielding currencies like the Japanese yen. If we don’t see any upside surprises in US inflation and activity data this week, this should cause the US dollar to fall further.

Forex trading

US dollar forecast: Unwind of carry trades

So far, we have only seen the euro show any signs of strength apart from those where interest rates are lower – JPY, CHF and CNH. The broader US dollar forecast should turn more negative once the equity markets shown signs of stabilisation light of the sharp repricing of US interest rates.

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EUR/USD forecast: FOMC, NFP and Eurozone CPI on tap this week

As we start the week, the EUR/USD has fallen with the dollar rising across the board. Still, the EUR/USD forecast is not entirely bearish yet even if you take into account the loss of momentum in Eurozone data in recent months. Due to declining US bond yields and increasing expectations of rate cuts by the Federal Reserve, we could see a more meaningful downtrend in the dollar this week.

Forex trading

EUR/USD forecast: Currency Pair of the Week - July 15, 2024

Already cutting rates in June, the European Central Bank will be in focus again this week. This time, no rate cuts are expected from the ECB, which, together with reduced political uncertainty in Europe and weakness in US data, should all help to keep the euro supported against the US dollar, maintaining the short-term EUR/USD forecast in bulls’ favour.

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GBP/USD forecast: Currency Pair of the Week – July 8, 2024

The upcoming release of US inflation data is likely to alter the odds of a September rate cut in the direction of the surprise, putting the GBP/USD forecast into focus. Thus, a clearer trend for the US dollar could emerge this week, after the greenback fell across the board last week.

Forex trading

EUR/USD forecast in sharp focus as French election nears

One big risk event is taking place next Sunday, on June 30. This will mark the first round of the French parliamentary election. But it is likely that the extent of Marine Le Pen party's progress will only be known after the run-offs on July 7.

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GBP/USD forecast: Currency Pair of the Week – June 17, 2024

The GBP/USD forecast is in focus, with the upcoming Bank of England rate decision, UK CPI, retail sales from both sides of the pond and global PMI data all on tap this week. Plus, there is the added uncertainty from the upcoming UK general election.

Forex trading

EUR/USD forecast: Currency Pair of the Week - June 10, 2024

The markets have reacted negatively with both the CAC and euro falling following European elections turmoil and France's decision to call a snap election. Markets generally don't like uncertainty and not when far-right parties are making gains across Europe, especially in Austria, Italy and Germany.

Currency exchange rate board of multiple currencies

USD/CAD forecast: Currency Pair of the Week – June 3, 2024

It will be a busy week for the greenback with lots of top-tier data releases to come, starting with the ISM manufacturing PMI on Monday. Among major currency pairs, the likes of the USD/CAD will be quite volatile with the Bank of Canada also expected to make a rate announcement in mid-week.

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EUR/USD outlook: Currency Pair of the Week – May 28, 2024

EUR/USD outlook could be impacted by key inflation data from Eurozone and US this week, as euro makes positive start to new week and dollar falls. EUR/USD technical analysis points higher after breaking from its bullish flag pattern. However, with key data on tap, the upside could be limited.

Market trader analysing data

GBP/USD outlook: Currency Pair of the Week - May 20, 2024

Our GBP/USD outlook remains bullish, mainly due to our bearish US dollar forecast. On the GBP side of the equation, the Bank of England is getting closer to cutting interest rates, although the market seems to be looking past this. Domestically, the focus this week is on UK inflation data, which is expected to cool, potentially cementing expectations that the central bank will cut rates in June.

Market trader analysing data

GBP/USD forecast supported ahead of key US data – Currency Pair of the Week

GBP/USD has been supported by stronger UK GDP ahead of wages data on Tuesday. Meanwhile, the US dollar has been hit by signs of cooling labour markets ahead of key inflation data on Wednesday. GBP/USD technical analysis points higher after breaking a bearish trend.