Apart from Apple’s expected launch of the new iPhone, today’s other big event is the Bank of Canada’s rate decision, due at 15:00 BST (10:00 ET). Along with the consensus forecasts, we do not expect the BOC to make any changes to its policy.
AUDUSD broke above the downward trend line on 4-hour chart, indicating that the downtrend from 0.7755 had completed at 0.7489 already.
As global markets return to business after the summer recess, and commodity markets attempt to find some much needed traction, the story for copper is very different as it continues to remain range bound and waterlogged across all the slower time frames.
The EURUSD pair went back and forth during the course of the day on Monday, essentially settling nothing. Perhaps lack of volume was part of the problem as Americans were away for Labor Day.
The AUDUSD pair rallied slightly during the day on Monday, but we await the Reserve Bank of Australia and its interest-rate announcement first thing in the morning.
The EURUSD pair initially fell during the course of the day on Thursday, but turn right back around to form a very bullish candle.
The AUDUSD pair rose slightly during the course of the day on Thursday, breaking above the top of the candle from the Wednesday session.
The U.S. economy only created new 151,000 jobs during the August vs. 180,000 jobs expected.
The pound took a pounding in the lead up to and aftermath of the June 23 EU referendum. But in recent weeks, it has staged a remarkable recovery, even though the Bank of England has decided to cut interest rates to near zero and restarted QE.
GBPUSD remains in downtrend from 1.3278. The rise from 1.3059 is likely correction of the downtrend.
