Week Ahead Video August 13th 2023
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Blake Morrow of #ForexAnalytix talks about the week ahead in #FOREX as we head into mid-August summer doldrums, but will volatility die down? Looking ahead at the data that is coming up, and the levels being tested, the risk is heightened that volatility could increase as well.
Blake noted the USDJPY at the 145.00 level and increased risk of Bank of Japan or Ministry of Finance jawboning our outright intervention at these levels.
Blake also discussed the AUDUSD with employment this week. The GBPUSD with avg earnings index and UK inflation coming out. Canadian CPI on Wednesday and how the USDCAD could make another surge towards the 135.00 level again. NZDUSD is at range lows ahead of the RBNZ rate decision this week! Also, the NOK is facing the Norges Central Bank decision as well.
Blake takes a look at the S&P500, the Nasdaq100 breakdown, and the DAX sitting on support. Also, the Nikkei225 is nearing channel support. Gold and silver are weak and Blake does feel that there is still some near term downside.
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