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A Tale of Two Dollars

Canadian and US employment reports could not be so different. Canada produced a whopping +82k new jobs last month, beating all expectations and now has futures dealers pricing in a year end rate hike, while the US could only manage an anemic +120k gain on Friday. Even with an upward revision and a -0.1% drop in the unemployment rate was too low to keep the interest rate led USD advance of late intact. However, the lack of US economic strength could create broader global economic fears, again driving the dollar to outperform as investors actions translate into more risk aversions.

Below are some other highlights of the week:


AMERICAS

 

EUROPE Week in FX [1]

ASIA Week in FX [2]

 

WEEK AHEAD

  • JPY releases its current account ahead of interest rate announcement
  • CNY is busy with Inflation, Trade and Growth data this week
  • NZD deliver Business Confidence while AUD release Employment
  • USD and CAD both bring Trade numbers
  • Inflation numbers are also released in USD along with Claims

 

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