Forex forecast for 11 August 2017.
Forex traders are waiting the inflation data in the US, which will be published today. It is expected that the growth of consumer prices accelerated from 1.6% in June (annually) to 1.8% in July.
A weak inflation data may be enough to close the euro above $1.1730, which would mean a fifth week of growth, for the first time in seven months. Large orders are located far from current levels, and significant customer interest is concentrated within 1.1650-80.
Forex forecast for 10 August 2017.
Euro tested the area under the level of 1.17 yesterday. By the end of the US session it managed to return to the middle of the range 1.17-1.18, but today in Asia the euro was under pressure again.
Technically the pair can adjust to the level of 1.16 before the bullish trend, which began in January this year, will be threatened. Fundamentally it is unlikely that something will change the mood of the market today.
Forex forecast for 9 August 2017.
The Australian dollar suffered some losses today, falling to a three-week low. AUD/USD fell by 0.4% to the level of 0.7882. Some time before the pair reached the level of 0.7855, the minimum since July 18.
The Australian dollar is under the pressure as Forex traders worry about the rising tensions between the US and North Korea, which had a negative impact on commodity-related currencies. The Australian dollar could recover when the current calms down.