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Forex week in review: April 3-8

The Market got what it wanted this week when it came to Central Bank announcements. The RBA, BoJ, BoE and ECB all remain mindful of inflation. The ECB tightened rates +25bp [1], seemingly to begin  its rate normalization policy. Their actions will provide greater forex directionality in the medium term for investors. The beginning of policy divergence between the Fed and ECB is negative for the dollar and with risk appetite back with a vengeance it seems the market cannot get enough of the ‘carry’ trade. The looser monetary policy’s of the Fed and BoJ is allowing their currency to remain favorable funding vehicles.





  • North America dominates the data next week with CAN and US Trade Balance, BoC rate statement, US Sales, claims, Core CPI, PPI and ending with the UoM Consumer sentiment Index.
  • UK has CPI, Germany has its ZEW Economic Sentiment release early in the week.
  • Governor Stevens from the RBA speaks mid-week and China gets to show us its CPI and GDP numbers

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.

Dean Popplewell

Dean Popplewell [10]

Vice-President of Market Analysis at MarketPulse [11]
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell
Dean Popplewell

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