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The Dollars in Motion

The big dollar found its sea legs, at least temporarily, after Friday’s UoM consumer sentiment index and the Conference board’s leading indicators both exceeding the streets estimates. The currency was propelled higher outright to the EUR and was able to add to its gains against most major currencies. With the general lack of liquidity and varying degrees of market participation, due to the different holiday schedules being respected, the sustainable market moves are yet to come. The benign Canadian CPI data should mean that there is no pressure on the BoC, which it has signaled since April that it may raise interest rates, to act any time soon.

Below are some other highlights of the week:


Americas

 

EUROPE Week in FX [1]

ASIA Week in FX [2]

 

WEEK AHEAD

  • Next week, AUD and the FED produce their Monetary Policy Minutes
  • Also down under, NZD reveals its inflation situation
  • Both CNY and GER will provide Flash Manufacturing PMI’s
  • GBP brings us public Sector Borrowing and GDP
  • New and existing Home Sales comes from the USD
  • Finally and from down under, AUD RBA Stevens speaks end of week

 

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

Latest posts by Dean Popplewell (see all [7])