We seem to have had a really good forecast for last week Friday with 5 out of the 7 pairs conforming to our predictions. From the US dollar pairs the EUR/USD was the odd one out where it went in the opposite direction. Overall the US dollar had weakened by 1 point on our scale while Japanese yen instead of strengthening weakened by 2 points on our scale. All in all a good forecast! Currencies to keep an eye out for today would be Australian dollar, we could see some movements due our fundamental watch. Through the course of the day we could be looking at a weak US dollar and a strong Japanese yen. Not adding any hedged pairs to offset the trading risk.
Forecasts Outlook
US Dollar: Weak
Today we're expecting the EUR/USD to proceed Long above the barrier levels of 1.33758 and 1.34051.
Fundamental Watch
- NAB Business Confidence