The US$ is a bit lower to start the week but remains range-bound for the time being. This weakness has boosted Gold and the commodity currencies making them look quite bolshy. There isn’t any High impact news scheduled today but watch for any impact from AUD Business Confidence and EUR ZEW Economic Sentiment data.
Last week: It was another week of numerous Spinning Top and indecision-style weekly candles reflecting the ongoing choppy price action that, again, resulted in only a few trend line breakout opportunities. Despite this indecision, the four major US stock indices, the S&P500, DJIA, NASDAQ and Russell-2000, managed to scrape through with bullish-coloured weekly candles and […]
The US$ broke up and out of a recent congestion pattern triggering pullbacks in Gold and the commodity currencies and short-term traders might have been able to snag some of this movement during the European session. Today brings NFP so caution is needed to see how this news impacts the US$.
There has been choppy price action across the charts with most showing a lack of direction following the Monday holiday in the US and UK. Today brings Aussie GDP data but this chop could well continue until Friday’s US NFP.
There isn’t much to report today given the Monday holiday in the USA and UK. Today is RBA rate update day so Aussie traders should watch for any impact on the ASX-200 and AUD$.