Weekly Trading Forecast: FX Traders Prepare for Heavy Volatility on FOMC, GDP and ECB Stimulus

This past week's calm optimism was likely an interlude for a bigger shift in market conditions. With a FOMC decision, US GDP, ECB Stress test and much more ahead; stability will be put to the test.

Dollar and Market Confidence Ride on FOMC Decision

The US Dollar managed to muscle out a modest advance this past week despite favorable winds for investor sentiment (through benchmarks like S&P 500 and volatility indexes) as well as a persistent dovishness in rate forecasts.

Gold Losses to Accelerate on Less Dovish FOMC- Support Break Eyes 1206

Gold prices are softer this week with the precious metal off by 0.55% to trade at $1231 ahead of the New York close on Friday.

AUD Faces A Potential “Breakout” On US Heavy Event Risk

The Aussie may remain under pressure over the coming week as elevated volatility caps carry demand, while US-centric event risk offers potential “breakout” catalysts.

FI: Gross Domestic Product (YoY): -0.800 %

Date (GMT)EventCons.ActualPreviousSep 16 06:00Gross Domestic Product (YoY)-0.800 %-0.300 %NewsFinland Gross Domestic Product (YoY): -0.8% (July) vs previous 0.1% (FXStreet) Tue, Sep 16 2014, 06:00 GMT

CN: FDI - Foreign Direct Investment (YTD) (YoY): -1.800 %

Date (GMT)EventCons.ActualPreviousSep 16 02:00FDI - Foreign Direct Investment (YTD) (YoY)-1.800 %-0.350 % NewsChina FDI - Foreign Direct Investment (YTD) (YoY) dipped from previous -0.35% to -1.8% in August (FXStreet) Tue, Sep 16 2014, 02:00 GMT

CO: Industrial ouput (YoY): 1.600

Date (GMT)EventCons.ActualPreviousSep 15 22:00Industrial ouput (YoY)1.600 -0.600 NewsColombia Industrial ouput (YoY) up to 1.6 in July from previous -0.6 (FXStreet) Mon, Sep 15 2014, 21:59 GMT

US: 3-Month Bill Auction: 0.015 %

Date (GMT)EventCons.ActualPreviousSep 15 15:303-Month Bill Auction0.015 %0.020 % NewsUnited States 3-Month Bill Auction down to 0.015% from previous 0.02% (FXStreet) Mon, Sep 15 2014, 15:40 GMT

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