The US dollar edged up in a week full with mixed signals. The difference from many previous gains was that this wasn’t a flight to safety run, but rather a general advance of the greenback across the board. US Housing data, the FOMC Meeting Minutes and Durable Goods Orders are the main events this week. Here is an outlook on the major events to shape forex trading.
Last week, The Philly Fed Manufacturing Index partially rebounded from the sharp drop during June and July, reaching -7.1 points. The recent drops suggest a contraction trend in the US manufacturing sector. Meantime, the US Job market remained OK last week with a minor 2,000 increase in jobless claims to 366,000 remaining at low levels indicating the job market is recovering. Europe is contracting and Finland discusses a euro exit again, but the hopes for a Spanish aid request followed by a blitz bond buying from the ECB is keeping the euro balanced.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/forex-weekly-outlook-august-20-24/"]Forex Weekly Outlook August 20-24[/URL][/I][/B]
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.