1-888-998-3948


Wednesday, April 4, 2018

Currency Market Trend Analysis: April 4, 2018

Currency Market Trend Analysis: April 4, 2018
Source: CXI International Payments Team

 

By The Numbers: Your FX Week In Review

 
 
Foreign currency value versus USD is decreasing
 
Foreign currency value versus USD is increasing

*Indicators show the percent change over the past week.

Currency Calendar

Date Releases / Holiday  
April 2, 2018 Markit Manufacturing PMI (Mar) UK/CAD/EMU
April 2, 2018 ISM Prices Paid (Mar) USA
April 2, 2018 FOMC Member Kashkari Speech USA
April 3, 2018 Retail Sales (Feb) Germany
April 3, 2018 ISM NY index – Business Conditions (Mar) USA
April 4, 2018 PMI Construction UK
April 4, 2018 Factory Order (Feb) USA
April 4, 2018 Consumer Price Index (Mar)  EMU
April 4, 2018 ADP Employment Change (Mar) USA
April 4, 2018 Unemployment Rate (Feb) EMU
April 5, 2018 Market Services PMI  UK/EMU
April 5, 2018 ECB Monetary Policy Meeting Accounts EMU
April 5, 2018 International Merchandise Trade (Feb) CAD
April 6, 2018 Average Hourly Earnings (Mar) USA
April 6, 2018 Nonfarm Payrolls (Mar) USA
April 6, 2018 Net Change in Employment (Mar) CAD

Upcoming bank holidays and impactful report releases for select countries.

Market Analysis

Canadian Dollar

CAD/USD opened last week at 0.7759 and closed at 0.7756 – depreciating by 0.04% due to some disappointing releases of the monthly GDP and Raw Materials Price Index.

With this, less than expected, decline in GDP it weakened the CAD. This decline was partly due to the decrease of household spending. Canada already has a high housing debt ratio and the Bank of Canada’s intentions to increase interest rates should be slowed down.

 

1. Markit Manufacturing PMI (Mar): Monday, April 2nd

2. International Merchandise Trade (Feb): Thursday, April 5th

3. Net Change in Employment (Mar): Friday, April 6th


Investing.comForex Charts powered by Investing.com
 

 

British Pound

GBP/USD opened last week at 1.4131 and closed at 1.4008 – depreciating by -0.87% due to some political retaliations.

Over the weekend Russia announced it will expel more than 50 UK diplomats as retaliation of the expulsions of the Russian diplomats earlier in the week. Tensions are rising ever since the poisoning of a former Russian spy.

With the Bank of England and a fading enthusiasm of a softer Brexit this has caused uncertainty of the Sterling. The GBP has been increasing the past couple weeks and it’s finally when the dust settles and a common ground is being placed on what the valuation of the GBP will be. With the PMI coming out this will surly tell us more of how the GBP and USD will react.

 

1. Markit Manufacturing PMI (Mar): Tuesday, April 3rd         

2. PMI Construction (Mar): Wednesday, April 4th

3. Markit Services PMI: Thursday, April 5th


Investing.comForex Charts powered by Investing.com
 

 

European Central Bank Euro

EUR/USD opened last week at 1.2358 and closed at 1.2321 – depreciating by -0.30% due to a strong CPE from the US.

With CPI in the EU side decline and the strong CPI on the US side this caused the EUR to depreciate against the dollar. With a new month and new data to be coming in it causes more room for the EUR to grow. If the BOE doesn’t make a firm stance on the rate hike we could see some instability in the EU.

Markets had a long weekend and the eyes are for this week for updated data. This week will set pace for the EUR and USD.

 

1. Markit Manufacturing PMI (Mar, EMU): Monday, April 2nd

2. Retail Sales (Feb, Germany): Tuesday, April 3rd         

3. Unemployment Rate (Feb, EMU): Wednesday, April 4th

4. Consumer Price Index (Mar, EMU): Wednesday, April 4th

5. ECB Monetary Policy Meeting Accounts (EMU): Thursday, April 5th


Investing.comForex Charts powered by Investing.com
 

Get more Currency Market Trend Analysis >>

Sign up to get CXI's Currency Market Trend Analysis sent to your inbox weekly >>


 

FX Market Pro

Corporations & Financial Institutions: Want to get ahead of the curve for the upcoming week? Get CXI's currency market trend analysis sent directly to your inbox weekly.


About the Author

Remon Shehata - Data Analyst

Remon educates corporate clients on foreign currency markets lending industry best practices that enhance client knowledge and create specialized solutions that fit each business. Interested in having a custom international payments strategy or foreign exchange risk plan? Request A Call


About Currency Exchange International
Currency Exchange International (CXI) is a leading provider of foreign currency exchange services in North America for financial institutions, corporations and travelers. Products and services for international travelers include access to buy and sell more than 90 foreign currencies, multi-currency cash passports, traveler's cheques and gold bullion coins and bars. For financial institutions and corporations, our services include the exchange of foreign currencies, international wire transfers, global EFT, the purchase and sale of foreign bank drafts, international traveler's cheques, and foreign cheque clearing through the use of CXI's innovative CEIFX web-based FX software www.ceifx.com

Disclaimer: All product names, logos, and brands are property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, logos, and brands does not imply endorsement.

This publication has been prepared by Currency Exchange International for informational and marketing purposes only. Opinions, estimates and projections contained herein are our own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed reliable, but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which Currency Exchange International, its affiliates or any of their employees incur any responsibility. Neither Currency Exchange International nor its affiliates accept any liability whatsoever for any loss arising from any use of this information. This publication is not, and is not constructed as, an offer to sell or solicitation of any offer to buy any of the currencies referred to herein, nor shall this publication be construed as an opinion as to whether you should enter into any swap or trading strategy involving a swap or any other transaction. The general transaction, financial, educational and market information contained herein is not intended to be, and does not constitute, a recommendation of a swap or trading strategy involving a swap within the meaning of U.S. Commodity Futures Trading Commission Regulation 23.434 and Appendix A thereto. This material is not intended to be individually tailored to your needs or characteristics and should not be viewed as a "call to action" or suggestion that you enter into a swap or trading strategy involving a swap or any other transaction. You should note that the manner in which you implement any of the strategies set out in this publication may expose you to significant risk and you should carefully consider your ability to bear such risks through consultation with your own independent financial, legal, accounting, tax and other professional advisors. All Currency Exchange International products and services are subject to the terms of applicable agreements and local regulations. This publication and all information, opinions and conclusions contained in it are protected by copyright. This information may not be reproduced in whole or in part, or referred to in any manner whatsoever nor may the information, opinions and conclusions contained in it be referred to without the prior express written consent of Currency Exchange International.
Posted By Rachel Butler at 02:13 PM
comments powered by Disqus

Platinum Passport

Travelers: Never miss a thing and be the first to know about CXI branch promotions, travel tips and hot trends.

Currency Insider

Corporations & Financial Institutions: Want to get ahead of the curve for the upcoming week? Get CXI's currency market trend analysis sent directly to your inbox weekly.