Weekly FX Update – 31 August 2017 (Video)

It’s been a week of two halves, with the start driven by renewed geopolitical tensions after North Korea launched a missile over Japan and the latter by an abundance of economic releases. While risk aversion dominated earlier on – made worse by the devastating impact of Tropical Storm Harvey – it gradually recovered as the week progressed although an underlying feeling of unease still remains.

The week ahead promises to be anything but dull, starting with Friday’s jobs report providing additional insight into the US economy after the disappointing inflation data on Thursday. The week after see’s central banks dominate with decisions from the Reserve Bank of Australia, Bank of Canada and the European Central Bank.

Senior Market Analyst Craig Erlam discusses all of these issues and gives his analysis on EURUSD (7:10), GBPUSD (9:26), EURGBP (10:44), AUDUSD (12:56), USDCAD (14:25), GBPCAD (16:48), NZDUSD (17:58), USDJPY (20:12), GBPJPY (21:27) and EURJPY (23:12).

Gold Pushes Higher as Consumer Spending, Housing Reports Miss Estimates

USD/CAD – Canadian dollar rises on bets BoC to hike after GDP data

US Inflation Key Ahead of Friday’s Jobs Report

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.