These week the Fed Chair Yellen Dovish statement make US dollar week even which is not recover by positive Non-Farm Employment changes. Yellen has another opportunity to move the greenback in the upcoming week. In addition, a rate decision in Australia, the US Non-Manufacturing PMI and the FOMC meeting minutes stand out. These are the highlights of this week. Here is an outlook on the coming financial events.
Changes in the Major Currency pair from 28 March to 01 April
EUR/USD:- After dovish statement of Yellen we saw positive in EUR/USD and even NFP events not make any big effect .These EUR/USD open with 1.1159 and closed with 1.1391 and complete change is nearly 2% and in upcoming week there is ECB President Draghi Speaks which may make EUR/USD more strong.
GBP/USD:- We see the good movement in GBP/USD after yellen speak and BOE Gov Carney Speaks. These week its open with 1.4130 and closed with 1.4228 which is not a bullish indication for GBP/USD because on Friday we note the opening rate is 1.4357 and low is 1.4170.But these currency pair has another opportunity next week. In addition, Services PMI, FOMC Meeting Minutes, Fed Chair Yellen Speaks, Manufacturing Production m/m.
AUD/USD:- After making the latest low 0.6810 we note that these currency pair moves up direction for further retracement which is supported by Yellen Dovish statement. These week opening rate of AUD/USD was 0.7508 and closing rate was 0.7677 so net change is 169 pips means it rebound with 2.25% strong against the Dollar.There are some major economical event which may affect the AUD/USD very strongly. In addition, Building Approvals m/m, Retail Sales m/m, Trade Balance, Cash Rate, RBA Rate Statement.
USD/JPY:- These currency pair already moves in downtrend technically and its also supported by Fundamentally by Dovish statement of Yellen. The Non-Farm Payrolls report showed US economy gained 215,000 jobs in March but which is less then the February employment change so its make opposite impact on USD pairs. This week the USD/JPY opens with 113.15 and closed with 111.61 which indicates more bearish movement in upcoming weeks but in next there is another chance for yellen and Fed members to provide some strength to Dollar. These week the net change in usd/jpy is 1.38%. In addition, ISM Non-Manufacturing PMI, FOMC Meeting Minutes, Unemployment Claims, Fed Chair Yellen Speaks.
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