Idea Central (Weekly Commentary 02/04/2018)
This week there are couple of news focusing around USD, GBP and AUD. Australia’s Cash Rate, UK PMI data and US Non-Farm Payroll at the end of the week are the main highlight.
Market is usually calm during post-NFP, however recent trade war might set the market into frenzy. Investor might then shift toward more stable currencies.
Price seems to be consolidating after bouncing off support level of 1.2289. With NPF happening at the end of the week, we expect there shouldn’t be any major movement and therefore price more likely to move between 1.2390-1.2289.