The ECB Forum in Sintra is set to be a pivotal event for traders this week, with both Fed Chair Powell and ECB President Lagarde taking center stage. The US Dollar has turned flat ahead of the US JOLTS numbers, but is showing signs of revival as the EUR/USD slumps to 1.0700. Meanwhile, Natural Gas continues to face selling pressure, sinking over 1%.
On the currency front, Pound Sterling is making a recovery as the US Dollar consolidates gains ahead of Powell's speech. Gold, despite being rangebound at the moment, still holds bullish long-term prospects. However, the Mexican Peso is sliding due to increased risk of a Trump victory.
Societe Generale warns that any hawkish noises from Sintra may be drowned out by the Treasury market. Traders should keep a close eye on these developments and adjust their positions accordingly to capitalize on potential market movements.
Learn about my trading tools: https://www.mql5.com/en/users/philip.edits/seller
On the currency front, Pound Sterling is making a recovery as the US Dollar consolidates gains ahead of Powell's speech. Gold, despite being rangebound at the moment, still holds bullish long-term prospects. However, the Mexican Peso is sliding due to increased risk of a Trump victory.
Societe Generale warns that any hawkish noises from Sintra may be drowned out by the Treasury market. Traders should keep a close eye on these developments and adjust their positions accordingly to capitalize on potential market movements.
Learn about my trading tools: https://www.mql5.com/en/users/philip.edits/seller
