US Dollar weakest last week
Last week, the weakest was the US dollar, with the Japanese yen striking the US dollar to turning out to be the weakest, as market sentiment mirrored augmented risk appetite. This was most likely indicated by the media’s excited reaction to the DJIA’s test of 10,000 on Wednesday and finish higher on Thursday. Coming week, US dollar event risk is going to begin to revive again on Tuesday as US housing begins and building permits are likely to have risen for the 2nd consecutive month in September to 10-month highs, with starts expected to reach 610,000 from 598,000 while permits might go up to 590,000 from 580,000. Whilst the unemployment rate is yet getting ready to go up, the federal government’s tax credit for 1st-time home buyers of max of $8,000 is expected to be supportive of demand throughout the end of the year.
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