Boris and Kathy Forex Weekly – 06-08-2018 – Commodity Dollars
August 5, 2018 11:03 pm
The first week of August was a fairly good one for the U.S. dollar. The greenback appreciated against all for the major currencies with the exception of the Swiss Franc, Australian and Canadian dollars. Sterling was the worst performer while the loonie enjoyed broad based gains. The Australian and New Zealand dollars bounced off 2 week lows while EUR/USD fell to a 5 week low. It was a very eventful week that included a Bank of England rate hike and a modest calibration of monetary policy by the Bank of Japan. The Federal Reserve’s monetary policy decision and non-farm payrolls report were overshadowed by trade tariffs, Yuan weakness and PBoC action. In terms of data releases, the next few weeks of August will be quieter but with many traders taking off for summer holidays, low liquidity could also lead to big moves in currencies.
The first week of August was a fairly good one for the U.S. dollar. The greenback appreciated against all for the major currencies with the exception of the Swiss Franc, Australian and Canadian dollars. Sterling was the worst performer while the loonie enjoyed broad based gains. The Australian and New Zealand dollars bounced off 2 week lows while EUR/USD fell to a 5 week low. It was a very eventful week that included a Bank of England rate hike and a modest calibration of monetary policy by the Bank of Japan. The Federal Reserve’s monetary policy decision and non-farm payrolls report were overshadowed by trade tariffs, Yuan weakness and PBoC action. In terms of data releases, the next few weeks of August will be quieter but with many traders taking off for summer holidays, low liquidity could also lead to big moves in currencies.
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