EBÈNE, MAURITIUS--(Marketwire - Oct. 30, 2012) - In his Market Brief of The Week for 29 October, leading global foreign exchange trader, educator and author Mario Sant Singh, focuses on individual currencies and their countries' economies due to lack of main direction amongst currencies and asset classes.
Mario expects expects prices to be driven by the outcome of the European Union (EU) Summit and China's GDP this week, but without correlation among different currencies and asset classes due to a lack of main direction.
Said Mario Sant Singh - whose views are widely sought after in the Forex industry, "AUD fundamentals improved recently given the increased "bottom" possibility of China, and a higher-than-expected Australian CPI might reduce the possibility of a rate cut in November. Thus, I would like to seek carry opportunity provided that the overall risk sentiment remains."
"Among all currencies against the AUD, the GBPAUD holds a better possibility to hit the target zone between 1.5376 to 1.5591 toward the end of the year, based on current implied probability," he added.
U.S. economic releases will be heavy this week. Besides the Non-Farm Payroll to be released this Friday, the Institute for Supply Management (ISM) manufacturing index, the Chicago Purchasing Managers' Index (PMI) and the Automatic Data Processing (ADP) employment change statistics will be released as well.
"I expect a better-than-expected figure to be released compared to the figure in September, increasing to 125,000. Manufacturing conditions remained subdued in September, though the ISM survey climbed back into expansion territory to a level of 51.5. But orders continue to suffer from slower global growth and uncertainty over U.S. fiscal policy. I expect the ISM will be slightly lower than the latest print but will stay above 50," said Mario.
Other key events to focus on this week, include Canadian and UK Gross Domestic Product (GDP) releases and the UK and China's manufacturing Purchasing Managers' Index (PMI) releases.
Click here to read this week's Market Brief of the Week. Mario's Daily Market Report articles also keep traders up to date.
Mario Sant Singh's popular blog, his Weekly Market Outlook webinar, and his briefs and reports provide direct channels for some of the best-informed educational resources that new and experienced traders can access to improve their knowledge of Forex and related investment markets.
ABOUT MARIO SANT SINGH
Mario Singh is the Director of Trading & Education at global retail Forex brokerage FXPRIMUS. He has appeared as a guest expert on CNBC more than 35 times to talk about foreign exchange markets, and is a regular contributor to top investment publications and online portals. Known as a brilliant and intense communicator with a unique ability to 'keep Forex simple' and a mission to help every man-in-the-street to trade profitably and responsibly in the Forex market, more than 20,000 people have attended his Forex trading programs. He is the only Forex trader in Asia invited to train Julius Baer Private Bankers - the third largest Swiss Bank, and is the author of the forthcoming book: How to Profit in the Forex Market: 17 Proven Strategies (Wiley Publishing).
FXPRIMUS offers retail traders a level of trade execution, service quality and fund safety that are normally reserved only for the largest investors. Serving traders in 205 countries across 6 continents FXPRIMUS combines an unmatched level of fund safety with regular independent audits of company financials and Straight Through Processing, top notch execution with tight spreads, prompt and responsive customer support, ISO 27001 certification in Information Security and an industry-leading trader toolset that includes free access to powerful trader tools and personal coaching via FXPRIMUS Coach FXPRIMUS truly is The Safest Place To Trade.