USD Direction this week: Bullish
I expect to see continuation of uptrend this week. there are rumours about dovish tone of FED and FOMC monetary meeting . The downside fluctuations should be counteract by further improvement in US housing data.
Potential currency movers:
|Monday||NAHB, housing starts, Dudley speaks,|
|Tuesday||building permits, Bernanke speaks,|
|Thursday||jobless claims, Bernanke, Evans speaks,|
|Friday||new home sales, Bullard, Bernanke, Lockhart speaks|
AUD/USD Direction this week: Bullish
The domestic and global economic outlook looks positive for AUD this week therefore I’ll be looking for opportunity to buy on pullbacks. Assumed higher prices of spot iron ore should be supportive for this pair.
AUD/JPY Direction this week: Bullish
I expect further weakening Yen due to smaller Japanese current surplus which will cause this pair to rise higher supported by healthy economic Aussie data.
By mid 2012 I expect to see pair trading around 92.00 level.