Hello traders, and welcome to the already started trading week.
Last week was very interesting, with not very relevant unscheduled news which is good "No news is good news"
In the USA we got the new sales of USA below the expected but not critical, the consumer confidence was also less than expected with a medium impact and what really impacted the dollar last week was the durable good orders, that raised 0.5% this month but it is still 0.5% below the expected; the GDP was slightly below expected and the pending home sales was way out of the expected range falling almost 1% in the last quarter.
The dollar received a rally from the FOMC after the minutes, that clearly said they will raise interest rates on december, thus also meaning the rates are unchanged till then.
The euro also received several impacts mainly because the inflation is still 0, and this may cause problems if measures are not taken as in past quarters from the ECB.
From Canada we received also the GDP which has been moving exactly as expected, following the effects of the monetary policy in recent months.
We also got the same information from England, wich GDP is developing quite good in comparison with the rest of the world but this quarter slighlty missed expectations getting to the 2.3% anual.
Australia also showed a strong economy with an inflation of 0.5% that slightly missed expectations.
And New Zealand confirmed that interest rates won't be touched until december and maybe even after it.
Therefore the fundamental forecast for this week is as follow:
EUR: Bearish
USD: Bullish
GBP: Bullish
JPY: Bearish
CAD: Neutral
CHF: Bearish
NZD: Neutral
AUD: Bearish
MXN: Neutral
Last week results:
Currency: Forecast / Current True False Close
EUR: Bullish / Neutral
USD: Neutral / Neutral
GBP: Bullish / Neutral-Bullish
JPY: Neutral / Neutral-Bearish
CAD: Bullish / Bearish
CHF: Neutral / Bearish
NZD: Bullish / Bullish
AUD: Neutral / Bearish
MXN: Bullish / Bullish
