- The S&P 500[1] is on the verge of a bullish breakout as we approach this morning’s US equity open, and this highlights a continuation of volatility in the equity space while many FX pairs remain relatively quiet. One FX market that was not quiet this week will remain in the spotlight for next week, as the bullish breakout in the British Pound will be in focus for Wednesday’s release of March inflation numbers out of the UK.
- Both the US Dollar[2] and the Euro[3] continue display range-bound characteristics, while both GBP[4] and JPY[5] are showing tendencies of trend. This makes for an interesting backdrop across FX-land as we move deeper into April, and we discussed a number of these pertinent themes in yesterday’s webinar entitled, FX Majors: Price Action Strategy Across USD-Pairs[6].
- DailyFX Forecasts have been updated for Q2, and are available from the DailyFX Trading Guides page[7]. If you’re looking to improve your trading approach, check out Traits of Successful Traders[8]. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide[9].
Do you want to see how retail traders are currently trading the US Dollar? Check out our IG Client Sentiment Indicator[10].
Next Week’s Economic Calendar
Next week’s economic calendar[11] is noticeably light on US issues, with the sole high-impact item being released ahead of Monday’s US equity open. But – there are a number of notable releases elsewhere that can drive some volatility through FX markets, with
