On the weekly interview on Forex TV, I spoke with Julie Sinha about this week’s few events, technical levels, and directions of EUR/USD, GBP/USD and AUD. Special attention was given to the Chinese rate hike, an event that caught the world unprepared. Enjoy!
The Australian dollar fell immediately at the beginning of the week, as expected, but recovered and reconquered parity afterwards. It seems that there aren’t enough players in the market to move the currencies. At least not yet. The move came as a surprise, after it seemed that China would substitute interest rate hikes for reserve ratio hikes – hikes that happened six times in recent months.
Read more about the Chinese rate hike.