This Trading Week Opens Prospects for USD

This trading week opened with the same market sentiment as the demand for the US dollar is still low. Nevertheless, there are reasons why the greenback could regain losses later. The USD/JPY pair is now trading near 113.50. Market particIpants await a speech of Bank of Japan Governor Haruhiko Kuroda in the second half of the global trading day. Investors are keen to learn his remarks on further monetary policy, though most economists foresee formal predictable content of his speech. The policy maker is widely expected to stress again a positive impact of the regulator’s ultra soft monetary policy. Importantly, several officials from global central banks are due to speak this trading week that will invigorate trading on Forex.

Meanwhile, market participants are already absorbing statements from the deputy governor of the Reserve Bank of Australia. Guy Debelle expanded on steady economic recovery and a solid upward trajectory in non-mining business investment, but evaded speaking on monetary policy. No wonder, traders do not consider his speech a market moving event. The dynamic of the Australian dollar is determined entirely by the weakness of the greenback. Investors are still disappointed with proposals of the Senate Republicans on the tax reform. The AUD/USD pair is trading next to 0.7650. The economic calendar is loaded with market moving events this trading week. So, experts say that a situation on Forex could reverse several times. Currency analysts are warning against opening careless orders.

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