Last Week:
The main event of last week was the FOMC which was less Dovish than expected and left analysts expecting a rate hike this year - this had led to strength on the USD.
Elsewhere we saw some GBP strength in the first 2 thirds of last week following strong GDP figures. On top of this Shells proposed buyout of BP would mean a potential 47 billion pounds hitting the UK economy which is far from being a small deal.
It was however dragged down towards the end of the week following uncertainty around the current elections.
The EUR also struggled as Greece still expect to run out of money before the months end.
This Week:
This week starts the corporate earnings season where we expect to see improvements across the Finance sector following increased mortgage lending. We do expect to see a decline on the S&P500 following decreased oil prices.
Elsewhere we will be listening in to Draghi as he heads up the EUR speech table, and follows up on the first completed QE purchases (60bln). We will be particularly interested to see what his outlook is on the Greek debt crisis.
Also listen out for the Chinese GDP where we expect to see new lows which could push the AUD down in sympathy.
Have a Good week!
(Source FOREX NEWS TRADER COURSE)