EURUSD Awaits Volatility Influx and ECB, AUDUSD has RBA on Tap

We have finally cleared the Summer doldrums with the extended US holiday weekend now behind us. Moving forward, we have an inevitable rebound in volatility (risk) and heavy event risk to achieve it. The focus remains on the USDollar as the most exposed safe haven currency and the Euro given the influence the region's financial crisis has on global markets. Yet, the critical catalysts for these two fronts (Fed rate decision and ECB rate decision) are still some ways off. Speculation and conjecture will require a steady hand as we trade the swell in volatility. In the meantime, the Aussie dollar may have better staying power with an RBA decision meeting an over-extended selloff for the currency.