As most Forex traders have a mix of both long term and short term trades live at any one time, there are many of them worry about what the week ahead has in store for the money markets.
It fact, the Turkish Lira has taken a hammer in no uncertain terms due to Donald Trump announcing some tough tariffs are going to be imposed on good arriving in the USA from Turkey and there doesn’t look like there will be any wiggle room regarding those tariffs either.
However, it is often the case that Forex traders will use their spare time on a Sunday to make sense of just what the week ahead will hold, for much like every other week of the year there are going to be trade results announced from any different market sectors in many different countries of the world, and whatever the results those reports show, will have a knock on effect regarding the value of many currency pairings.
Most Forex traders eyes are also going to be on GBP this coming week and it did nose dive last week, and many commentators are wondering if that is something that is likely to continue for the week ahead, which is may just do!
GBP Likely to Bounce Back
If you have been eyeing up some Forex currency pairing on GBP then it has to be noted that there is currently nothing wrong what so ever with the economy in the UK, and as such the recent drop in the value of GBP is likely to be a very temporary blip.
Most traders are expecting GBP to bounce back up in value much sooner rather than later and even though interest rates were recently raised ever so slightly by the Bank of England they did so due to the economy being in such good health in Great Britain.
US Dollar to Continue to Grow in Value
There is one currency that most traders are backing to continue to grow stronger and that is the US Dollar; there is no doubt in anybody’s mind that with the financial guidance of Donald Trump the economy in the US has never been o good.
With unemployment rates across many different grouping being at all time record lows, with new trade tariffs being imposed on overseas goods, I am sure you will also be pairing up the US Dollar on the right side of any trade to again in value.