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Forex Week in Review July 3-8

Investors, traders and dealers have suffered from FX whiplash at some point this week. The market has progressed from a potential Greek default, Portugal being downgraded, the PBoC and ECB tightening to end the week with a dismal non-farm payroll release. Not even a pessimist was close to guessing the ‘no’ job growth situation happening in the US. QE2 has ended and the market continues to wait for the positives from ‘that’ Fed initiative to trickle down through the economy. With employment out of the way, markets can refocus on the weak Euro-peripheries and the US debt debate.

Below are some of the highlights of the busy week:






  • We start the week with the Trade Balance from CNY, followed by CAN and USD
  • Inflation releases from NZD, CNY, GBP and USD
  • Capital markets receive Monetary Policy statements from the BoJ, FOMC minutes and BoC Business Outlook survey
  • Euro-zone Bank Stress test results appear next Friday
  • Retail sales and consumer sentiment end the week in the US


OANDA Top 100 Trader Statistics [1]OANDA Order Book [2]

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 [7]

Vice-President of Market Analysis at MarketPulse [8]
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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