The global economy has improved in the last few years, and now the central bankers feel more confident. Besides that, we had a pretty good week for forex.
As we approach the weekend, most investors are likely to settle into their earlier position. Especially considering that the US economy does not have much to offer us today.
Investors are likely to trade the dollar with a bullish bias during the European & US trading sessions before the release of macroeconomic events from the United States.
In the Asian session, the market is trading sideways. Traders are likely to wait for the release of macroeconomic events from the US economy, to be able to trigger their trades based on clear trends.
Today, investors are likely to trade with the dollar stronger sentiment the will come from Dudley's hawkish remarks. Here is what to watch out for today!
During the current week, investors are likely to trade the echoes from the FED Interest Rate Hike & FOMC meeting minutes in order to support the U.S dollar
A supposedly quiet week turned into a very interesting one for the forex community. Economic data was weak but the FED and BOE suddenly turned hawkish and this provided a lot of action for us.
The Canadian dollar made an aggressive move higher this week. Oil was not the reason, however…
Today, the focus is on the US macroeconomic events which are due to be released in the New York session. Personally, I'm not expecting a stronger price action, but perhaps there will be a slight adjustment in fundamental prices.
In the Asian session, the market is likely to stay muted in response to the massive volatility yesterday. It's time to get ready for the Bank of England & Swiss National Bank rate decisions. Though we aren't expecting any change, the SNB is known to surprise.