EUR/USD

The pair is expected to face a strong resistance at 1.333 this week waiting for the US labor report by the end of this week. The pair can face a strong profit taken again as what has been done last month of the US labor report as the market has found it a good chance to resell the USD after an upbeat US non-farm pay-roll came at the double of the market expectations. It was rarely to face this market performance on such non-farm payroll data. But ahead of this week data the USD could find some footing but it is expected to be short lived and on a wave of profit taken before these data which is expected to be faced with USD selling after it especially if it came weaker than expected. We have many indicators to look at this week Q3 GDP – prelim, Nov US Consumer Confidence, Nov Manufacturing ISM, Oct Factory Orders, Nov Change Employment Payrolls and also the PMI manufacturing index from EU and UK.

USD/CHF

New comments from SNB that there can be an intervention option to tackle the CHF appreciation finally in the beginning of this week can help the USD from find a support at 1.14 levels. We have many indicators to look at this week Q3 GDP – prelim, Nov US Consumer Confidence, Nov Manufacturing ISM, Oct Factory Orders, Nov Change Employment Payrolls and also the PMI manufacturing index from EU and UK.

GBP/USD

The cable traders are waiting this week for King`s testimony on this month Inflation Report before his speech to the British Academy next Wednesday. Weak UK Manufacturing PMI should not help the GBP appreciation which can cause further hurting on this higher interest rate than its counterparts in US and EU. The market is still pricing on mild UK pace of recovery especially after last Friday`s weak Q3 q/q figure which was just 0.4% from 0.9% in Q2. We have many indicators to look at this week Q3 GDP – prelim, Nov US Consumer Confidence, Nov Manufacturing ISM, Oct Factory Orders, Nov Change Employment Payrolls and also the PMI manufacturing index from EU and UK.


USD/JPY

Iwata`s recent talking about the flexibility that has been reached in the currency market and his agreement on the moderate impact of the interventions with Greenspan has dragged the pair from 130.3 to 102.7 recently. That is beside the G20 call for a flexible currency market which has given the feeling that the BOJ has further tolerance before intervening in the forex market! And Today`s disappointing Oct industrial output which has come at -1.2% can give the pair some support in the next sessions as the market was expecting .2%. We have many indicators to look at this week Q3 GDP – prelim, Nov US Consumer Confidence, Nov Manufacturing ISM, Oct Factory Orders, Nov Change Employment Payrolls and also the PMI manufacturing index from EU and UK

Best Wishes