On the weekly interview on Forex TV, I spoke with Julie Sinha about the tests that await the strengthening Euro, debt worries in Europe and in the US, and the relative weakness of the Canadian dollar. The interview also consists of a calendar overview and technical levels of selected pairs. Enjoy:
I also spoke about the major events this week. The Tankan manufacturing index in Japan can boost the yen, but if USD/JPY reaches low levels, another intervention by the BOJ can occur. Japanese policymakers won’t give up quickly.
The Canadian dollar already showed weakness last week, as its gains fell short of those of other currencies – especially the other commodity currency – the Aussie. It will probably face a dip in monthly GDP now – a result of its weak neighbor – the US.
Towards the end of the week, we’ll get a first indicator towards next week’s Non-Farm Payrolls – the ISM manufacturing index is likely to provide a strong end to the week.
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