AUD/USD may continue to retrace the decline from earlier this month as it snaps the recent string of lower highs & lows after failing to test the May 2017 low (0.7329).
Author: David Song
USD/JPY may continue to consolidate over the remainder of the week as the recent advance in the exchange rate fails to produce a test of the May-high (111.40).
Updates to Canada’s Consumer Price Index (CPI) may curb the recent advance in USD/CAD should the data print boost bets for an imminent Bank of Canada (BoC) rate-hike.
Updates to New Zealand’s GDP report may fuel the recent decline in NZD/USD as the growth rate is projected to slow to an annualized 2.7% from 2.9% in 4Q 2017.
More of the same from the Bank of England (BoE) may drag on GBP/USD as market participants scale back bets for an imminent rate-hike.
The NZD/USD exchange rate stands at risk of giving back the advance from late last year as a bear flag formation unfolds.
EUR/USD is back under pressure as the ECB strikes a dovish tone, with the pair at risk for further losses as the Governing Council is in no rush to normalize monetary policy.
USD/JPY stands at risk of extending the decline from earlier this week as the escalating trade war between the United States and China drags on market sentiment.
The recent rebound in EUR/USD unravels, with the exchange rate at risk for further losses as the European Central Bank (ECB) remains in no rush to normalize monetary policy.
Recent price action in USD/JPY raises the risk for range-bound conditions as the dollar-yen exchange rate snaps the series of higher highs & lows from earlier this week.