Niko

This week our currency strategists focused on the Reserve Bank of Australia and Bank of Canada Monetary Policy Statements for potential high-quality setups.

Our short position in EUR/GBP was taken out after a weaker-than-expected U.K. GDP update. Let’s take a look at the outcome & compare it with other theoretical adjustment options to see what we can learn. 

WTI crude oil has formed lower highs and found support at $67 per barrel to create a descending triangle on its 4-hour chart. Is it gearing up for a breakout soon?

With the ECB monetary policy statement ahead, here’s a quick discussion on potential adjustment strategies & what we did with our EUR/GBP short position.

While the decision may have already been priced in CAD’s current prices, dovish hints in BOC’s press conference could lead to further losses for the Loonie.

Will the BOC cut interest rates by another 50bps this time? Or will they signal a slower pace of easing soon? Here’s what I’m watching on CAD/JPY and NZD/CAD if the Canadian central bank seems less dovish than usual.

RBA is anticipated to hold its rates steady, but the scheduled presser and speeches by central bank members leave room for a bias shift that may weigh on the Aussie.

The upcoming RBA decision could reinforce the Australian central bank’s position as one of the more hawkish ones around, as policymakers are expected to keep rates on hold again.

This week our currency strategists focused on the Australian Q3 GDP Report & its potential impact on the AUD for potential high-quality setups.

A short position in AUD/USD, initially triggered by weaker-than-expected Australian GDP data, was closed profitably today as the U.S. jobs report showed stable employment conditions.