Forex Weekly Review. And thoughts on the upcoming week.AUD/JPYOANDA:AUDJPYjohnelfedforexblogDespite a US government shutdown, the S&P hit fresh all time highs during the week starting Monday 29 September. It wasn't quite so straightforward for the currencies, which did appear to be functioning according to 'interest rate speculation', particularly the JPY, which was strong for most of the week, due to growing speculation the BOJ wil hike rates in October. Although, governor UEDA dented those thoughts with 'dovish comments' on Friday. Which could very well set up a resumption of JPY short trades this coming week. Particularly as I keep reading that new LDP leader TAKACHI will be seen as 'dovish' for the JPY. One final JPY thought is to note the (inverse) correlation between the NIKKEI and JPY, is noticeably prevelent at the moment. The USD spent most of the week on the back foot, likely not helped by the government shutdown. But also as the market swings back towards October and December rate cuts. From the limited US data we did get, Friday's below expectations ISM data adds credence to a dovish FED. And I begin the new week with with a tentative USD short bias. The CAD also continues to be a contender for the 'currency to short', thanks to the ongoing dovish BOC, combined with the falling price of oil as OPEC continues to signal more oil production. The AUD had a merry go round of a week, also linked to interest rate speculation. Beginning the week on the front foot thanks to the ongoing hawkishness of the RBA. But hawkish sentiment was put to the test by soft data. It was also noticeable the AUD dropped alongside the falling price of iron ore. On a personal note, it was a week of two trades. On Tuesday a EUR USD long when the USD was weak and post German inflation data. Thursday's AUD NZD long wasn't my finest hour, I thought I knew best but should have waited for more 'price confirmation'. Indecently, I do still think the trajectory of AUD NZD is up, but I need to see 'nice 4hr support'. Also , the RBNZ could play a big role this coming week. I begin the new week wondering if we'll get any US data of note. But all in all, I have a tentatively bullish bias for the 'risk environment' (particularly if middle east peace talks go as Mr Trump suggests). And I also have a bullish bias for 'hawkish central banks'.