Weekly review: Gold, USD, EURUSD and Dow Jones

Weekly review: Gold, USD, EURUSD and Dow Jones

Global stocks and precious metals started the new week mixed as investors continued to bet on further Federal Reserve tightening. Moving ahead, the markets have a lot of economic data to digest this week which includes the Eurozone inflation and Friday’s July Non-farm payrolls (NFP).

EURJPY: Double Top pushing the price lower

EURJPY: Double Top pushing the price lower

EURJPY failed to close above the June peak of 158 on the second attempt forming a double top. Since the start of this week, the currency pair experienced a pullback after the Euro extended the decline. Moving ahead, European Central Bank and Bank of Japan meetings are the main important events to watch for EURJPY traders this week.

Weekly review: Gold, USD, EURUSD and Dow Jones

Weekly review: Gold, USD, EURUSD and Dow Jones

It's undoubtedly a huge week ahead and all eyes will be turning to the FOMC, BOJ and ECB meetings.

  • Federal Reserve monetary policy decision: Wednesday, July 26

  • European Central Bank policy meeting: Thursday, July 27

  • Bank of Japan policy meeting: Friday, July 28

The key focus, however, will remain on the most anticipated Federal Reserve’s interest rate decision.