Weekly EURUSD, GBPUSD, USDJPY Forex Analysis November 28 – December 05, 2022
The week ahead could potentially prove decisive for the dollar trend, depending on the outcomes of the scheduled high-impact events. The key focus will be on Fed Chair Powell’s speech (Wed), the PCE inflation report (Thur), and the Nonfarm Payrolls and other jobs reports (Fri). Each of these events - if there are some large surprises from expectations - could induce a new surge in volatility. Overall, given how much the dollar has already corrected since November 10, the space for a further USD decline seems to be shrinking. Instead, it now looks there is greater potential for a USD rebound, should e.g., Powell is hawkish or the NFP prints another robust number.