EUR/USD

The pair is still impacted by the recent disappointing non-farm payroll of Sep. the market is waiting for the germane ZEW which is expected to come lower negatively impacted by the recent high oil prices which are expecting to remain for a longer time than expected especially after it has become well above 50$ a barrel and generally the trade balance data are the main keys of the currency market this week which are also impacted by the high oil prices and also we have from EU this week forecasts of Q3 & Q4 GDP. Last week the ECB could not provide any new thing moves the rate outlook in EU. The pair is technically well supported above 1.228/1.23 level a testing back to this level may be in hand but the level can persist after the impact of the recent weak US labor data of Sep as the market has seen in it a reason for slowing the interest rate tightening pace in US. The main keys of this week are US trade balance of Aug and US retail sales of Sep.

GBP/USD

The pair is waiting a good deal of data this week which can help us to know more about what can be the next action MPC`s and when. The market was disappointing after the recent weak UK manufacturing and industrial production of Aug of UK and The Halifax measure of house prices which has fell by 0.6% in August, posting its tenth monthly decline in the last five years. The pair has faced a strong slump last month of the weak UK CPI of Aug which has come disappointing at 1.3%. So the market is looking at this week figure of Sep seriously and it is expected to come tomorrow at 1.4% and also we wait today for UK trade balance of Aug which is less important to the currency market especially on the recent records that has been achieved on July GBP -5.2 bln on the high oil prices!. The market is expecting today GBP -5.1 bln. Also we have this week Sep UK unemployment rate which may be less important especially if it has not come with any significant number. The main keys of this week are US trade balance of Aug and US retail sales of Sep.

USD/CHF

The pair was negatively impacted by Taba`s last week explosion and the recent US labor data but it can find a support this week on the weekend peace deal in AL Sader city. It is important to wait for this week` US trade balance of Aug and US retail sales of Sep.

USD/JPY

The pair was generally supported by the high oil prices but it could not break again above 111.45 and it has come back lower on the Japanese core machinery orders rose 3.1% in August from July and increased up 5.4% from a year ago followed with the US dollar slumped across the board after the much anticipated US jobs report showed a net creation of a dismal 96K in September, well below consensus expectations of 150K and also August jobs has been revised down to 128K from 144K. The pair is expected to be supported as well as we are at these current high oil prices.
The main keys of this week are US trade balance of Aug and US retail sales of Sep.

Happy Trading Week