USD Direction this week: Bullish
It is expected to see uptrend of the currency this week due to positive data coming from US this week and optimistic tone of Bernanke speech. In addition building USD strength factor, should be political difficulties of Italian and Spanish economy. Due to historical events I’ve described in my earlier post I expect further weakening of JPY thus strengthening USD/JPY currency pair.
Potential currency movers:
|Monday||home sales; Bernanke speaks;|
|Tuesday||house prices, consumer confidence, Bernanke, Dudley, Duke speaks;|
|Wednesday||durable goods orders;|
|Thursday||jobless claims, Bernanke, Lockhart speaks;|
|Friday||personal income and spending;|
AUD/USD Direction this week: Range bound
This currency pair is like to range this week due to lack of major economic events. Fluctuation in direction this week will be related to European events and strengthening of USD index.
By mid 2012 I expect to see pair trading around 1.1000
AUD/JPY Direction this week: Bullish
I expect further weakening Yen due to historical events I’ve described in my earlier post last week. Further policy loosening announced Bank of Japan will have positive influence on AUD/JPY currency pair.
|Friday||CPI, Industrial production;|
By mid 2012 I expect to see pair trading around 92.00 level.