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Forex Trading: Asian Session Recap and Ranges

Posted by Akhilesh Ganti on Nov 3, 2013 10:59:00 PM

The US Dollar started the week mixed -vs- the majors. Last week the Euro reversed sharply on surprisingly poor economic data, especially the low inflation figures, in many Eurozone countries. Couple that with the hawkish tone of the last FOMC statement, which was not expected, and US economic data that exceeded expectations and the stage was set for the Euro to weaken -vs- the USD ahead of this week's event risk.

This week's Central Bank speakers include BOJ Governor Kuroda on Tuesday prior to the release of the BOJ Minutes from the last meeting, Draghi and other speakers before the ECB announcement on Thursday. Beyond policy events, the market will be looking forward to US NFP for October as well as non-manufacturing ISM and the first reading of 3Q US GDP.

Ranges: {WWM's New ALPHA Trader - Daily Charts}
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