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Week in FX Europe 15-20 July

This is now officially very ugly. Spain revising growth targets, Valencia looking for a handout and Spanish 10’s making it near impossible to fund has tentative risk positions entered this week on the back foot. All this is allowing the dollar and yen to end the week in demand. Policy makers are desperately trying to rid any perception of Spanish insolvencies. ECB is not helping its own currency or investor confidence by not accepting Greek bonds as “collateral at this time.” Price action in the wake of this week’s SA-MPR by helicopter Ben highlights the extent to which market participants continue to be uncomfortably short risk-sensitive currencies.

Below are some other highlights of the week:



AMERICAS Week in FX [1]

ASIA Week in FX [2]



  • Inflation data come from down-under in AUD
  • Retail Sales are delivered from CAD
  • Growth numbers and housing data is released in USD and GBP
  • The EUR releases Business climate conditions in Germany
  • The Kiwis have a monetary policy review and
  • CNY will get the ball rolling with Flash Manufacturing PMI


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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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