Monday’s forecast had a bit of a turmoil as only USD/CAD behaved close to what we had thought possible, looks like US dollar strengthened overall instead of weakening as we had thought. On the other hand the Japanese yen did strengthen as we had predicted but only towards the US close and opening of Asian sessions. We still seem to be at cross roads. Today US dollar could continue to strengthen together with the Japanese yen. 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 1.38080 and 1.37783.
Fundamental Watch
- Core Retail Sales m/m
- PPI m/m
- Retail Sales m/m
- CB Consumer Confidence
- BOC Gov Poloz Speaks
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