Friday 1 February 2019
Given the current USD and FED focused week, today the USD is bound to close the week with volatility due to the NFP numbers. While the unemployment rate is expected to be hold at the 3.9% mark, the headline NFP could suffer below 200k number sending the USD further down. That said, a turnaround is not ruled out either. USD traders have to exercise extra caution and risk management throughout the figure release.
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Thursday 31 January 2019
As expected the Fed halted rate hikes and cited caution, giving the USD further weakness and lifting major pairs, mainly the antipodeans the AUD and NZD. The EUR and the GBP were little changed and while a pullback into any of these major pairs can give us great buying opportunities they have yet to reach a good buying level. Hence we exercise patience and protect our capital. More price action volatility is expected due to the USD NFP release on Friday which should give us what we need to act at the end of this week or next week.
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Wednesday 30 January 2019
Today’s highlight will be the FOMC rate statement and decision accompanied by the Press Conference. Any dovish remarks regarding future rate hikes will have a negative effect on the USD, prompting other major pairs to rally. While majors pairs could easily rally, but have yet to show confirmation, the GBPAUD cross looks set to fall in case of a lower high formation.
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Tuesday 29 January 2019
With the calendar light for the 2nd day of the week, traders will concentrate more on price action movements such as the overnight AUD and NZD pullbacks that are bound to continue upward. CB Consumer Confidence from the US might see some volatility from the USD once NYSE opens.
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Monday 28 January 2019
Today’s calendar is light with no key economic data releases only 2 speeches from ECB and BOE Governors, which shouldn’t induce too much volatility unless there are any massive revelations about monetary policy which hits the market unexpectedly.
Pairs to watch remain the AUD and NZD.
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