One of the most exciting weeks in forex trading began, with AUD/USD still looking towards parity, the Japanese yen close to all time lows and and awaiting a possible intervention, and of course, the main theme – QE2. In the weekly interview on Forex TV, I spoke with Julie Sinha about all these things and more. Enjoy!
There is high probability of a gradual and careful quantitative easing program, of 75-100 billion dollars a month. This is not the worst case scenario in my 5 scenarios for the QE2 decision. In such a case the dollar will enjoy a relief rally.
Apart from QE2, we discussed technical levels in AUD/USD, EUR/USD which looks to fall and the dangers of trading USD/JPY these day, especially with the surprise rate decision in Japan, moved right after the FOMC decision.
With all the noise about QE2 and Ben Bernanke, it’s important to remember that the king of forex trading is with us this week – Non-Farm Payrolls. This release and the impact are also discussed.
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