AUDUSD traders will get some clues regarding future monetary policy from Governor Glenn Speech on Monday. Currently AUDUSD built support at 0.7620 & during the last 3 days the price is above 0.770 showing a potential correction, yet on monthly chart AUDUSD might reach 0.698 the buying zone formed above the support from 2008 at the level 0.6000
Europe Trade Balance as the difference in value between imported & exported goods during Dec is expected to increase showing that more goods were exported than imported & it might give some strength for EURUSD. Last support for EURUSD was 1.1100 and EURUSD managed to correct to 1.153 to collapse again, currently at 1.13. A green Trade Balance on Monday might help the price to hold from falling fast.
Market is expecting a red number from China. Inflation usually lead to a respond from the central bank by raising interest rates, & this news event might have a strong impact on AUDUSD chart due to the high level of import & export between Australia & China.
Bank Of England quarterly report regarding inflation and economic analysis might show some stability, & GBPUSD might benefit from that to correct more up during that report. On the other hand if that report showed a negative aspect regarding UK economic health then GBPUSD might collapse & retest 1.500 supp level. Currently GBPUSD is above 1.52 & fail to correct above 1.535 & 1.50 support level still in range in case GBPUSD want to fall again.
Market is expecting a green number for Change in total value of sales at the retail level in the US, a release which might give strength for US Dollar & let the market fall again retesting important supports.
Eurostat Gross Domestic Product report which measure total value of all goods and services produced by the Eur-ozone, reflecting the economic health in Europe & the market is expecting a stable number... yet in case the number came in red then EURUSD might collapse on Friday & reach new support levels.
