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Week in FX: Americas October 16-21

Investors had expected a relatively uneventful trading session into the Euro Summit this weekend. This was not to be, the dollar had a ‘wobbly’, printed WWII record lows against the yen that was triggered by the execution of exotic auction barriers and the running of a plethora of dollar stop-losses across the major currency pairs. A mix of speculation that European leaders are moving closer to an agreement to contain its sovereign debt crisis has tentative “risk” being applied and the big dollar ending the week on the back foot. When does the ending of the euphoric headache begin? Maybe it’s after the second summit?

Below are some highlights of the week:



AMERICAS

 

European Week in FX [1]

ASIA Week in FX [2]

 

WEEK AHEAD

  • Capital Market gets Monetary Policy statements and rate decisions from JPY, NZD and CAD
  • Consumer and Business confidence comes from CHF, USD and NZD
  • Inflation headlines and reports are released in NZD, AUD and GBP
  • CNY will gives us a flash manufacturing print
  • GBP has its Current account and Quarterly GDP numbers to divulge
  • USD not unaffected, it’s got core-durables, new and pending home sales, finishing with its Advance GDP print

 

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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