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Monday, July 3, 2017

Currency Market Trend Analysis: July 3, 2017

Currency Market Trend Analysis: July 3, 2017
Source: CXI International Payments Team

 

 

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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 Entity
July 3, 2017 BoE Governor Carney’s Speech UK
July 3, 2017 ISM Prices Paid USA
July 3, 2017 ISM Manufacturing PMI USA
July 4, 2017 Inflation Report Hearings UK
July 4, 2017 Markit Manufacturing PMI CAD
July 5, 2017 Non-monetary Policy's ECB Meeting EMU
July 5, 2017 FOMC Minutes USA
July 6, 2017 ECB Monetary Policy Meeting Accounts EMU
July 7, 2017 Unemployment Rate CAD
July 7, 2017 Net Change in Employment CAD
July 7, 2017 Unemployment Rate USA
July 7, 2017 BoE Governor Carney’s Speech UK

Upcoming bank holidays and impactful report releases for select countries.

Market Analysis

CAD/USD - Canadian Dollar

The CAD opened last week at 0.7548 and closed at 0.7703.  

The CAD has appreciated 2% against the USD in the last week, as a result of an increase in the price of oil. The unemployment rate and the net change in employment for BoC will be announced on Friday, July 7. Expect a nonvolatile week ahead. 

 

1. Markit Manufacturing PMI: Tuesday July 4.

2. Unemployment Rate: Friday July 7.

3. Net Change In Employment: Friday July 7.

 

 

GBP/USD - British Pound

The GBP opened last week at 1.2737 and closed at 1.3004.

The GBP appreciated 2% against the USD last week, following positive comments made by Bank of England Governor, Mark Carney. Although investors reacted positively to his statements, it is possible that the upward trend will eventually stabilize pending the results of the upcoming inflation report hearing on Tuesday, July 4. Expect a bullish week in the future. 

 

1. BoE's Governor Carney Speech: Monday July 3.

2. Inflation Report Hearings: Tuesday July 4.

3. BoE's Governor Carney Speech: Friday July 7.

 

 

EUR/USD - European Union Euro

The Euro opened last week at 1.1196 and closed at 1.1423.

The euro has hit a 12-month high against the USD, appreciating by 2%, and is expected to hold steady in the upcoming week. This is primarily due to comments made during a forum hosted by the European Central Bank this past week hinting at an increase in interest rates in the near future. Expect a nonvolatile week going forward. 

 

1. Non-monetary Policy's ECB Meeting: Wednesday July 5.

2. ECB Monetary Policy Meeting Accounts: Thursday July 6.

 


 

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About the Author

Ryan Graham

 Ryan Graham - AVP of Marketing

Ryan 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?

 


About Currency Exchange International
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