Upcoming Market Trends: Gold Surges while Euro-Dollar Watches ECB; Powell, BoC & NFP on Horizon

Upcoming Market Trends: Gold Surges while Euro-Dollar Watches ECB; Powell, BoC & NFP on Horizon

Looking ahead to the coming week, a variety of significant events are poised to stir up market activity across various sectors. Here's what to keep an eye on:

Tuesday: U.S. Services PMI

The U.S. ISM Services PMI for February is set to provide insight into the performance of the services sector. While a slight decline is expected, any surprises could impact the U.S. dollar by altering FOMC rate expectations.

Wednesday: Central Bank Focus

Bank of Canada (BoC): No changes in interest rates are anticipated, but attention will be on the bank's guidance for future policy decisions.

Fed Focus: Fed Chair Powell delivers the Semiannual Monetary Policy Report, offering insights into policymakers' current stance.

Thursday: European Central Bank and Powell's Testimony

ECB Decision: While rate changes aren't expected, any hints of a dovish shift could affect the euro.

Powell's Testimony: Another chance for Powell to provide updates on monetary policy, though no major revelations are expected.

Friday: U.S. Jobs Report

The release of the February U.S. nonfarm payrolls report will be closely watched. Stronger-than-expected data could impact the Fed's rate-cutting plans, influencing the dollar and gold prices.

Overall, these events have the potential to create volatility in financial markets, so it's important to stay informed with expert forecasts from DailyFX.