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Americas Dollars took the back seat

The North “Americas” had little data to feed off this week. It is a shortened trading week with most of the FX action occurring in the “other” trading time-zones. The majority of the “major” dollar action occurred on the back of toxic Euro headlines, Italian yields ballooning and political decisions still under scrutiny in a couple of the periphery regions.

This is a big political weekend in Rome. Market is ending the week on a positive note, not in the sense that risk is wholly back on the table, but because of prudent risk management has dealers taking some of their long dollars back off the table. Investors expect the ECB to protect their own domain more aggressively next week. Lack of any sign of them and dealers will be shouting ‘we will see you below”!

Below are some of the highlights of the week:


AMERICAS

 

Other Links:

EUROPE Week in FX [1]
ASIA Week in FX [2]
Politics and Fixed Income trump FX [3]

 

WEEK AHEAD

  • Retail sales data comes to us from NZD, USD and GBP
  • GBP, CAD and USD release inflation reports
  • Monetary policy minutes and statements come from JPY and AUD
  • JPY delivers growth data
  • EUR will acknowledge German ZEW economic sentiment
  • PPI data is released in USD and NZD
  • Claimants figures are observed in GBP and USD
  • USD finishes their week with Building permits and Philly Fed

 

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 [8]

Vice-President of Market Analysis at MarketPulse [9]
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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