Duncan Cooper - The Trade on ausbiz TV
FX traders collide with a week of major central bank decisions. The US Federal Reserve meets and is all but sure to hike interest rates, the ECB is expected to do the same and guide that there’ll be more to come, and speculation is rife that the Bank of Japan could table ending its yield curve control program.
Duncan Cooper from ACY Securities agrees it will likely be a big week for FX markets, sharing his analysis of the US Dollar Index, the EUR/USD, the GBP/USD, USD/JPY, and AUD/USD.
He says the Greenback is weakening and supporting primary uptrends for the Euro and Pound. Meanwhile, the AUD/USD remains range bound, as traders toss up the impacts of a weaker US Dollar on the one hand and the global growth headwinds weighing on the commodity (and China) sensitive Australian Dollar.
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