“Have a plan. In writing.”
USD
EUR/USD
The Shared currency rebounded to $1.1340, after hitting a low of $1.1285 yesterday, amid firmer Eurozone data. Traders remain on alert ahead of speech from European Central Bank President Christine Lagarde and testimony from U.S. Federal Reserve chairman Jerome Powell.
GBP/USD
Sterling is back towards yesterday's high, around $1.3600, on easing fears about the economic impact of the omicron variant on the U.K. economy.
USD/JPY
The Japanese Yen soared to 115.20 against the greenback on risk-off sentiment amid falling global equity markets.
AUD/USD
The Aussie dollar edged higher by 0.31% to $0.7190 after Australian retail sales grew better-than-expected, 7.3% month on month.
USD/CAD
The Canadian dollar reversed some of its gains to 1.2650 versus the U.S. dollar as oil prices fell and the prospect of rising U.S. interest rates weighed on investor sentiment.
USD/ZAR
South African rand weakened to 15.6650 on bets that U.S. inflation data later this week will bolster the argument for the Federal Reserve to raise rates.
USD/MUR
The dollar rupee unchanged at 43.55(selling) this Monday morning.
14.20 - ECB's Christine Lagarde Speech
19.00 - FED's Jerome Powell speech
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.
