We can only hope so! Another very quiet start to the FX trading week but that’s understandable, given that all eyes were probably on the football final in Rio. I seem to recall that the market gets a pick-up after a big sporting event like the Olympics or World Cup finishes, let’s hope that’s the case this time.

The main questions to be answered this week are:

  • Will the medium-term CAD slide re-commence or was Friday’s move simply a retracement/consolidation of the short-term trend;
  • Will the GBP top out in the short-term;
  • Can the NZD keep on rallying and break above .8850 against the USD?

More questions than answers at the moment.

Have a great week.