Forex Weekly Outlook – August 1-5

(Yohay Elam)- Rate decision in Australia, UK, the Euro-Zone and Japan, US Non-Farm Employment Change and other important employment data are at the top of our list this week. Here is an outlook on the major market-movers awaiting us.

Last week the debt ceiling crises deepened as U.S. House Speaker the republican John Boehner failed to round up sufficient support for his plan to cut the federal deficit and raise the U.S. debt ceiling forcing him to postpone the scheduled vote in congress just 4 days from the "drop dead date". This caused Boehner substantial embarrassment since he did not succeed to convince many of his own party to go along with his agenda. Will a breakthrough be reached before the deadline? Read more here…