Weekly Fundamental Forecast: Trade Wars, Brexit and Italy Risks Advance as Bulls Hope for Holiday Respite

The week ahead will test the mettle of holiday trading conditions. The US Thanksgiving holiday is a well-known curb on turnover in global markets which naturally breaks up speculative momentum. However, the abundance of systemic thematic threats (trade wars, Brexit, Italy’s budget) and 2018’s predilection for volatility could make this an unnerving holiday.

Oil Forecast – Crude Oil at Risk as OPEC Supply Cut Bets Undermined by Russia, US

Crude oil prices confirmed longest losing streak since at least 1984. Renewed OPEC supply cut bets may be undermined as Russia seems off the table while the US continues pumping oil.

Australian Dollar Forecast –Australian Dollar Can Hang On Again, But Downward Bias Remains

The Australian Dollar remains in unfamiliar territory just above the long downtrend that marked much of this year. What’s more it may well stay there this week.

British Pound Forecast – Brexit Chaos Leaves Sterling Still Vulnerable to Whiplash Moves

Trading Sterling (GBP) is becoming increasingly difficult and dangerous as constant Brexit headlines and UK political upheaval combine to create a toxic cocktail.

US Dollar Forecast – US Dollar Aims Higher on European Turmoil, Fed Outlook

Article source: https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2018/11/16/Weekly-Fundamental-Forecast-Trade-Wars-Brexit-and-Italy-Risks-Advance-as-Bulls-Hope-for-Holiday-Respite.html