Forex Trading: AUD/USD, CAD/USD, EUR/USD Forecast for September 30
The AUD has been steadily falling against the USD over the past week from a high of 0.8922 to a low of 0.8693. The dollar has remained strong and near a six year high despite the mixed data from the US last week. The AUD on the other hand has been weakening against all major currencies and is likely to continue to do so.
The CAD has also been falling against the USD and was trading at 0.8969, down from 0.9909 last Tuesday. It is thought unlikely that the Bank of Canada will tighten monetary policy anytime soon and as a result the CAD is likely to continue weakening.
The EUR has also been falling against the USD from a high of 1.2901 last Tuesday down to 1.2690 this week. It has recovered slightly in recent days due to the mixed US data, but the ECB has signalled a loosening of monetary policy which could further weaken the EUR.