OctaFX | OctaFX Forex Broker
Open trading account

USD, AUD weakness main theme in early Asia

FXStreet (Bali) - The US Dollar is being sold quite hard across the board, as is the Australian Dollar with the Yen, Euro and Pound so far capitalizing the most on the American currency weakness.

As Valeria Bednarik, Chief Analyst at FXStreet, notes: "The week starts with local share markets trading in the red, which should continue to favor safe havens, yet Nikkei will be close on holiday, probably keeping market movements limited."

Looking at EUR/USD, despite currently spiking to 1.2640, Valeria notes: "The pair maintains a bearish tone according to the 1 hour chart that shows price again below its moving averages and indicators in negative territory, showing no directional strength at the time being."

ECB's Draghi: Drag on growth to diminish in coming months

ECB President Mario Draghi crossed the wires on Saturday, at the sidelines of the G20, noting that they expect the drag on growth from fiscal consolidation to considerably diminish in coming months.
Read more Previous

China trade balance eyed - Westpac

Sean Callow, FX Strategist at Westpac, reviews the Asian session ahead, highlighting the Chinese trade balance as the main event.
Read more Next
Start livechat