Risk trends have improved and so too has the Dollar's position. Amid NFPs, the G20 rehash of risks, Brexit and other high-profile themes; expect volatility moving forward.
This past week’s USDollar rally marked the currency’s best performance since November’s dramatic break to 12-year highs – a move that proved a quick exhaustion.
There’s no other way to put it: EUR/USD (and the EUR-crosses broadly speaking) are experiencing déjà vu. If we’re right, then this is another classic “buy the rumor, sell the news” situation.
What a difference a week can make: Near market close last Friday, news had just begun to circulate that Mr. David Cameron had struck a deal with European leadership that could allow for British leadership to lobby for an ‘in’ vote in the upcoming Brexit referendum.
The Japanese Yen rallied for the fourth-consecutive week versus theEuroandBritish Pound, but a week of strong US economic data and disappointments out of Japan helped theUSD/JPYexchange rate break its recent losing streak.
Many market participants have been trained to look at Oil any time the Canadian Dollar moves.
The Australian Dollar may succumb to heavy selling pressure as prices face a perfect storm of high-profile domestic and external event risk.
Both onshore Yuan (CNY) and offshore Yuan (CNH) rates moved little this week; both closed slightly lower against the US Dollar on Friday.
Gold prices slid for a second consecutive week with the precious metal off just 0.2% to trade at 1224 ahead of the New York close on Friday.
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