USD Direction this week: Bullish
|Monday||ISM, Bullard, Pinalto speaks;|
|Tuesday||factory orders, FOCM, Williams speaks;|
|Wednesday||ADP, ISM non-manufacturing, Williams speaks;|
|Thursday||jobless claims, Bullard speaks;|
AUD/USD Direction this week: Range bound
It’s expected to see weakening currency at the beginning of the week and any upside movements will be controlled by USD and it’s strengthening. I don’t expect RBA to cut rates this week. however bearish market sentiment my cause downside risks.
Potential currency movers:
|Tuesday||retails sales, RBA announcement, China PMI;|
AUD/JPY Direction this week: Bullish
I expect further weakening Yen due to historical events I’ve described in my earlier post last week. Australian positive yiels should continue to support this pair.
|Friday||CPI, Industrial production;|
By mid 2012 I expect to see pair trading around 92.00 level.