Expecting less than forecasted value by considering previous history and current market sentiment towards USD.Last week US Dollar bulls seemed unimpressed by an intraday bounce in the US Treasury bond yields and remained on the defensive, which eventually turned out to be one of the key factors failing to provide any meaningful impetus but this week I am expecting that pair will bounce back and shown some strength so I bet on JPY.
Sanju777 predicted bearish impact of Foreign Portfolio Investment in Canadian Securities in the Fundamental analysis Contest
Expecting less value then previous value and current market sentiment towards CAD .
WTI preserves small daily gains above $58.
Saudi's Al-Falih says 100% compliance with output cuts will continue at least for 4 months.
US Dollar Index stays in red below 96.50.
By considering all I bet on CAD.
Base metals boosted by resurgent iron ore supported the Aussie.Housing data and RBA Minutes could have a negative effect on the local currency.The early advance was triggered by a 3% jump in Chinese iron ore futures, following news that Vale, a Brazilian steelmaker, will cut its production further. The company announced production cuts in an iron ore mine with an annual capacity of 12.8 million tonnes, after a temporary closure of another mine that could reduce the company's production in up to 70 million tonnes so I bet on AUD.