Dollar ended as the strongest one last week but Friday's steel fall after solid non-farm payroll job reports suggests that it's rally is already losing steam. It's still a bit early to call a bearish reversal for the greenback. Yet, strong risk-on sentiments could cap Dollar's upside attempts ahead, and even trigger a deeper pull back. Euro ended as the second weakest, next to Aussie, but the late development in EUR/AUD suggests that the favor is not on Euro's side. More importantly, developments in some crosses like EUR/CHF and EUR/CAD indicates that market focuses might turn to selling in Euro in crosses ahead. On the other hand, the late rebound in Canadian Dollar opens up some upside prospects for the near term. |
