Cryptocurrency

Forex: 5 key points for next week

The coins hard shake in the world, because nothing seems safe. For now, investors seek shelter in alternatives like Gold and Bitcoin. In this post we will see the key of the Forex market for the next week, in addition to will give you some useful tips to protect your money.

The week closed with slight gains for the greenback, especially against the Euro, closing below 1.12. Before the British Pound also has appreciated, trading at the close of Friday at 1.2350.

With respect to Gold, the dollar was close to its annual minimum of US$ 1.749, logged back in on the 19th of may. Watch if Monday can break the key barrier of $ 1,750.

Forex market: 5 key points

Next week will be packed with data macros, high-impact, that will move the forex market with force. Below I will summarize the 5 points that I believe are key to monitor.

On Monday, the data key will be sales of existing homes in the U.S., which are planned 4.15 million from 4.33 million in the last month. While it may pass as a datum for “light”, takes on great importance in the current context of the world.Tuesday will be loaded with data macros high-impact in Europe, with the highlights being the manufacturing PMI of Germany, where it is expected an expansion of up to 41.5 points. Then, at the last hour of the night of This, New Zealand will broadcast your interest rate, which is expected unchanged at 0.25%.Entering the middle of the week, will publish the inventories of crude oil in the united States. Any important variation, you can move significantly the price of a barrel of oil (WTI).Thursday will be known in the US weekly requests for unemployment benefits, a fact more noticeable by the context current that traverses the power in the world.To end the week, we will review the data from the consumer sentiment in the us.UU, is expected to positive up to 79.1 points.Forex market: Tuesday The 23rd will be disseminated to data macro most relevant, concentrated in Europe.

How to protect money?

It is one of the questions that are to be done daily in the current context that we live in. If the global economic environment was already ugly, with the pandemic of the Coronavirus is really “evil”.

The investors are out of bag and traditional assets, above all those that require intervention of the banks.

What would happen if there is an outbreak of the Coronavirus? We would be truly screwed, if it is no longer what we are.

Now, there are some financial instruments that continue to show robustness, in this context, and in addition to what have been done in other crises of the past. Below are the 3 most prominent:

1 – Gold: The precious metal closed Friday at US$ 1.743, only $ 6 of your annual maximum. If the pandemic progresses, you should not have problems in getting to the $ 2,000.

2 – Yen: The currency in japan is the currency of refuge for excellence, and in this crisis will be no exception. At the time of writing is trading at 106.80, being its objective value the barrier of 100, provided that the crises continue to deepen.

3 – Bitcoin: The BTC is one of the financial instruments non-conventional with more potential, despite of short existence. Although, it is a new technology, in its 11 years of life has been shown to be a clear refuge, with an exponential increase of its value. Another of its advantages is that it is not tied to the banking system.

Reliable sources

The information of this content has been taken from reliable sources which are detailed below:
1 – Editorial author’s own content.
2 – external Source: Forex Factory.

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About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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