Weekly FX Update – 11 September 2017 (Video)

While central banks dominated much of the last week, investors appeared far more concerned with events on the Korean peninsular where North Korea – fresh of having tested a hydrogen bomb – was reportedly about to mark its founding day holiday with another test. Past tests have triggered safe haven flows in the markets and it seems the anticipation of another was enough to leave investors in a risk averse mood.

As it was, the weekend passed with nothing more than a celebration in North Korea, to the relief of investors, prompting an unwinding of some of last week’s trades and a refocus on this week’s key events. Last week may have been far more interesting from a central bank perspective, with the ECBs dovish message falling on deaf ears and the Bank of Canada raising interest rates, the Bank of England decision this week is unlikely to be a dull affair. Especially as it is preceded by inflation and jobs data in the days before.

In this week’s video, Senior Market Analyst Craig Erlam discusses all of this and the other weeks key events. He also gives his analysis on GBPUSD, EURUSD, EURGBP, AUDUSD, USDCAD, GBPCAD, NZDUSD, USDJPY, GBPJPY and EURJPY.

Dollar Gains Tentative Traction

USD/CAD – Canadian Dollar Rally Continues, Canadian Housing Report Next

Relief Rally Seen After North Korea Celebrations

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.