We have had a good forecast for yesterday with 5 out of the 7 pairs conforming to our forecast. As we had thought through the course of the day the US dollar weakened while the Japanese yen strengthened. Currencies to keep an eye out for today would be New Zealand and US dollar pairs. Today we could be looking at a weak US dollar while Japanese yen may gather some steam. Adding one hedged pair to offset the trading risk.
Forecasts Outlook
US Dollar: Weak
Today we're expecting the EUR/USD to proceed Short below the barrier levels of 1.32204 and 1.31905.
Fundamental Watch
- Trade Balance
- Core Durable Goods Orders m/m
- CB Consumer Confidence