July 2 2013

In the trading room today: Will the USD Continue to Rise vs the EUR and the GBP? As both the EUR and the GBP remain under pressure against the USD, we examine the factors behind the strength of the greenback and explore the potential for this trend to continue after a much needed correction, we analyze the latest trend developments in the EUR/USD currency pair, we note the break lower in the GBP/USD pair, we keep an eye on the bullish USD trend against the JPY, we highlight the market’s reaction to the Reserve Bank of Australia interest rate announcement, the UK and the Euro-zone Manufacturing PMI, and the Japanese Tankan Index, we discuss new forecasts from JPMorgan Chase and UBS, and prepare for the trading session ahead.