• Euro Holds onto Thursday’s Unexpected Gains, Will a Quiet Auction Week Maintain Bullishness?
• British Pound Advances after Moody’s Offers its own Vote of Confidence in the UK
• Australian, Canadian Dollars Set for Volatility in Next Week’s Scheduled Event Risk
• Japanese Yen and Swiss Franc at Risk from Interventionist Policy Makers

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Friday’s trading conditions were highly unusual. On the one hand, the market was heading into the final session of the week with a strong pace of risk aversion and the monthly US nonfarm payrolls offered a specific event that could help or hinder the market’s activity.

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Expect weakness in the Euro crosses into next week. The Yen crosses appear at risk of a sharp short covering rally next week.

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Pound support has started to wane as growth concerns have started to replace the optimism generated by the emergency budget. The austerity measures have temporarily erased concerns that the country could lose its AAA credit rating.

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Short term channel lines in the EURUSD, GBPUSD, and AUDUSD suggest that the next USD low is just around the corner.

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