The currency pairs to keep an eye on for today are Australian dollar, British pound and euro due to our fundamental watch. We could be seeing significant movement on Australian dollar pairs with three news items coming out that could fuel movements on this currency alone. Would be an exciting day for the Australian dollar. Seem to have had a good forecast for yesterday with 4 out of the 7 pairs conforming to our forecast. The Oceanic pairs did not respect the demand zones that we had drawn. This was also due to the US dollar strengthening instead of weakening, hence our hedged pairs turned out to be the saviours. Today we could be in for a strong US dollar and Japanese yen, looks like our AUD/USD has already come out of our demand zone. Adding two hedged pairs to offset the trading risk.
Forecasts Outlook
US Dollar: Strong
Today we're expecting the EUR/USD to proceed Short below the barrier levels of 1.36005 and 1.36306.
Fundamental Watch
- Cash Rate
- RBA Rate Statement
- Construction PMI
- CPI Flash Estimate y/y
- GDP q/q