We could be in for exciting times as G7 meeting are starting off today, their outcomes could affect many major currencies. We also have other individual news items coming out that could affect many other currencies. All in all the pairs to watch out for today are the British pound, US, Canadian and Australian dollar pairs. We seem to have a had a good forecast for yesterday with 5 out of the 7 pairs conforming to our predictions. The EUR/USD, GBP/USD, USD/CHF, and the Oceanic pairs were very close to what we had thought possible. Today we could be in for a weak the US dollar while the Japanese yen could gather some steam. Adding two 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 1.36018 and 1.36310.
Fundamental Watch
- Services PMI
- G7 Meetings
- ADP Non-Farm Employment Change
- Trade Balance
- Trade Balance
- BOC Rate Statement
- Overnight Rate
- ISM Non-Manufacturing PMI
- Trade Balance