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admin February 4, 2021

Start your trading prep with an overview of catalysts coming up.

I’ve got some chart setups to keep tabs on, too!

FX Week Ahead

Take a look at how the majors performed recently and the upcoming catalysts to watch out for:

Major Forex Pairs Price Performance from MarketMilk
Major Forex Pairs Price Performance from MarketMilk

Major FX Pairs Overview

USD

The dollar was off to a good start and was cruising in the green for the most part of the week. Bears took over on Friday when risk appetite picked up on stimulus hopes, though.

U.S. CPI readings are up for release this week, and Fed head Powell’s speech would definitely be worth watching if you’re trading USD pairs. Read more.

CAD

No data? No problem! The Loonie was able to pull off a positive performance thanks to risk-on flows and rising crude oil prices.

There are no major reports on Canada’s economic schedule for the week, but the same factors might come into play for the Loonie again! Read more.

EUR & CHF

Weak data from Europe and stronger demand for the U.S. dollar sapped demand for the euro while the franc reeled from currency intervention rumors.

German trade and industrial production data could set the tone for euro price action this week, along with overall market sentiment. Read more.

GBP

Sterling was off to a slow start, but bulls managed to pick up the pace throughout the week as the BOE sounded less dovish on Super Thursday.

BOE Governor Bailey’s speech could be worth watching, along with the preliminary Q4 GDP and industrial production releases later in the week. Read more.

JPY

Yen pairs had a choppy run for the most part of the week, before the Japanese currency took bigger hits from risk-on flows by Friday.

There are no major reports due from Japan, and the shortened trading week could mean slower price action all throughout. Read more.

AUD

Dovish RBA rhetoric? Who cares? Aussie bulls were still able to take the currency to the top spot thanks to stronger risk appetite.

There are no major reports due from the Land Down Under this time, which suggests that market sentiment might be the main driver of AUD price action. Read more.

NZD

The Kiwi was unable to benefit from risk-on flows and upbeat jobs data from New Zealand, as it closed the week on a mixed note.

New Zealand’s quarterly inflation expectations report is up for release, but traders might still turn to risk sentiment for direction. Read more.

Forex Charts to Watch:

EUR/USD: 1-hour

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