Fundamental

The Pound Sterling (GBP) crashed to its lowest level in a month against the US Dollar (USD), as critical support levels were breached in a data-packed week.

The US Dollar (USD) stands victorious at the end of another week, with the EUR/USD pair trading near a four-week low of 1.1742, while the USD retains its strength despite some discouraging American data released at the end of the week.

Gold (XAU/USD) struggled to make a decisive move in either direction this week as it quickly recovered above $5,000 after posting losses on Monday and Tuesday.

Weekly Forex Forecast – USD/JPY, AUD/USD, WTI Crude Oil, S&P 500 Index, Bitcoin, Gold

The WTI crude oil price continued rising, reaching its highest level since August last year. It jumped to $67, up sharply from last December’s low of $55, as tensions between the United States and Iran have escalated.

The US dollar has rallied a bit during the early part of the trading session on Thursday as traders are looking forward to the PCE Price Index announcement on Friday.