What To Look In Forex? (9 APR - 13 APR)

US dollar

The greenback is certainly the main currency to plan this week. There are currently two situation in development that might weigh on this currency: an easing geopolitical tensions between the US and North Korea and an ongoing commercial dispute with China.

Euro

In the European Union, a rather empty economic calendar moved the focus to policy matters. The European Central Bank is currently thinking of a measure that would inject cash into banking institutions being rescued from insolvencies.

On the data front, German trade surplus came in at 19.2 billion euros in February, below a 21.5 billion euros surplus in the previous month.

Australian Dollar

In the next few days, we only see the speech of RBA chief Lowe as a catalyst. The AUDUSD will likely continue to fluctuate over the China-US conflict. The recently published RBA minutes offered extra support for the Aussie, which has been able to end last week in green territory.

Pound

Activity indexes in the United Kingdom were not supportive last week. However, the British pound was able to recover and gain across the board, especially against the dollar, which came under pressure on Friday following a disappointing employment report.

Manufacturing data in the UK and a new speech by BoE Governor Mark Carney are in focus.

Yen

Last week, the yen positioned itself as one of the top losers on the back of easing tensions in the political sphere, which reactivated demand for risky assets and favored the greenback.

The lack of economic events in Japan is expected to put all attention into the dollar. The dynamic of the American currency is likely to shape USDJPY direction this week.

FortFS