Currency Analyst since 2010

US dollar is correcting down

US dollar declined versus its main counterparts forming flags against the euro and the yen. Investors await the results of this week’s Federal Reserve’s meeting. American stocks declined in the last session, and US bond yields went down. The United States will release durable goods orders dara at 12:30 GMT. 

EUR/USD is enjoying technical correction: the pair rose to 1.1040. USD/JPY tested 123.35 on the downside. On Monday watch German Ifo business climate release at 08:00 GMT.

AUD/USD remains close near Friday’s low of 0.7260 as the Reserve Bank of Australia is expected to continue easing its monetary policy because of the declining commodity prices.   

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