“Time is your friend; impulse is your enemy.”
USD
EUR/USD
The Shared currency is on the back foot around 1.1340-35 after posting the biggest daily gain in a month around 1.1364 due to hawkish comments from the European Central Bank (ECB) officials and a jump in the eurozone inflation data to 5% versus a 4.7% market consensus for last month.
GBP/USD
The Cable traded around a new high of $1.3596 amid disappointing data from U.S Non-Farm Payrolls last Friday weighed on the U.S dollar.
USD/JPY
The Japanese Yen firmed at 115.79 versus the greenback, suggesting that the jump in the odds of a March U.S rate hike may have already been priced in by speculative investors.
AUD/USD
The Aussie dollar bounced off its lows of $0.7130 on Friday to $0.7195 this morning, finding help from a lift in Australia's bond yields amid dollar weakness.
USD/CAD
The Canadian dollar kept its bullish bias toward 1.2645 against the U.S dollar as stronger-than-expected domestic jobs data helped it make up some grounds.
USD/ZAR
South African rand benefited last week from bets that the South African Reserve Bank will hike interest rates early this year.
USD/MUR
The dollar-rupee stays put at 43.55(selling) this Monday morning.
13.30 - Sentix Investor confidence (Jan)
14.00 - Unemployment rate (Nov)
Losses in the USDCAD remain capped around 1.2640 against the greenback as oil prices recovers. After having completed a five wave impulse to the upside to 1.2779 ( Hourly chart) on 3rd January this year, we can observe the formation of an expanded flat a-b-c coming to the end around 1.2645. A break below 1.2620 invalidates the bullish count. On the flip side, a break above 1.2656 follows by 1.2740 (previous wave 4) can push the USDCAD for an impulsive wave 3 to the upside.
