OANDA Market Beat Podcast

OANDA Senior Market Analyst Alfonso Esparza reviews the major upcoming market news, macro analysis and economic indicator releases that will impact currencies, stocks other asset classes.

Subscription available on iTunes https://goo.gl/TZEWRW and GooglePlay https://goo.gl/cRBk39. Tune in every Tuesday and don’t miss a beat as we cover the hottest trends impacting the markets in the week ahead. Trading is high risk. Losses can exceed investment.

Dollar Mixed as Trade War Risks Escalate

The US dollar is higher against major pairs. Safe havens like the Swiss franc, Japanese yen and the euro are lower against the greenback, while the Canadian, Austarlian and New Zealand dollars along with the pound continue. Strong data in Europe boosted the single currency on Friday but the rally was short lived after the Trump administration announced a review of US-EU trade that could result in a 20 percent tariff on European car imports. Tensions are high with China this week after Chinese leaders vowed to retaliate against proposed tariffs.

Oil prices surged after the Organization of the Petroleum Exporting Countries (OPEC) and other major producers agreed to increase supply at the end of their collective meeting in Vienna. The lower than expectec increase, combined with the news that the US State Department urged allied to halt import of Iranian crude.

The Canadian dollar became the worst performer against the US dollar as inflation and retail sales disappointed on Friday and with little data to guide in the beginning of the week the loonie is trading at 1.3311 versus the dollar.

– US consumer confidence forecasted to slow down
– BOE Carney to announce bank stress test results
– BOC to publish its quarterly business outlook survey

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.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza