EURUSD

 

EURUSD was still tackling with the growth of the US dollar that sustained dominating the picture. The key event of this week’s definitely the ECB meeting. Will Draghi burden down the euro or cause it rise. Euro-zone inflation comes out poor than expected with 0.2 percent on the headline and 0.8 percent on the core numbers. This will keep the pressure on Draghi. In the US, an impact from the Jackson Hole Symposium constantly boosting the dollar and drive the pair rear to the post-Brexit levels. The basic reaction from the weak NFP was bounce back in EURUSD, but that did not curtains and the pair finished the week lower. Still the pair below pressure at the start of the fresh weeks, slipping below the 1.1190 levels.

 

The European Central Bank is too long from achieving its aim and keeping the force on the euro is fair to getting near to higher inflation. Currently might be act as a premature, but imply of a next move might serve to tilt to the euro downward. Even if the Fed is unclear about the timing of the upcoming move, the guidance is clear: a rate hike. EURUSD remains bearish for this week.

 

GBPUSD

 

The pair rose for 3 weeks in a row, as 160 points gained last week. GBP closed slightly under the 1.33 line. This week’s major news is Services PMI and the Manufacturing Production. The pound received a bolster from solid figures in the manufacturing sector. British Manufacturing PMI improved sharply in last month, pointing to development and easily taken out the expectations. The pair also took advantage of a weak NFP in the US, as the indexes plunged to 151 thousand, well short of the expectations of 180 thousand. 

 

British figures have been strong in the Q3, despite fears of an economic resistance from the Brexit vote. In the US, the timing of the upcoming move still uncertain but, the direction is clear: a rate hike. GBPUSD outlooks stand Neutral.

 

AUDUSD

 

The pair was unchanged last week, as ended at the level of 0.7550. This week’s they have 11 scheduled on the calendar. Australian major indexes are depressed, as Private Capital Expenditures and Retail Sales both missing their forecasts. The pair gained some levels in the late week, courtesy of a dismal US nonfarm payrolls report, as the index plunged to 151 thousand, well short of the expectations of 180 thousand. 

 

The pair opened the week at 0.7540 levels. The pair fell to a low of 0.7490 levels. After that the AUDUSD reversed directions and placed some sharp gains, mounting to a high of 0.7616, testing the resistance levels at 0.7597. The pair finished the week at 0.7550 levels. Australian GDP in second quarter is expected to soften, which might drive the Aussie lower. In the US, the timing of a move by the Federal Reserve is chancy but, the direction is clear, as there is a solid likelihood a rate hikes ahead the end of the year. AUDUSD remains Bearish.

 

USDJPY

 

The Japanese yen collapsed previous week, as the pair climbed 185 points, ended at 103.76 levels. There are 9 significant for USDJPY this week. Japanese consumer index remains weak, as Household Spending and Retail Sales both contracted in July. In the US, the nonfarm payrolls report was beaten, as the index plunged to 151 thousand, well short of the expectations of 180 thousand. 

 

USDJPY started the week at 101.92 and rapidly reached a low of 101.74 levels, as support held at 101.51 levels. Late in the week, the pair reached a high of 104.32 levels, before back off and finishing the week at 103.76 levels. Against a weak Japanese economy and rock-bottom inflation, the BoJ sustain to stay on the sidelines. In the US, the timing of a move by the Fed is chancy but, the movement is clear, as there is a solid likelihood a rate hikes ahead the end of the year. USDJPY this week’s Bullish outlook.