[B]Daily Fundamental Dose: 18-July-2016[/B]
Hello Traders,
With the US Retail Sales surging more than expected & prior, the US Dollar rallied during Friday, providing a consecutive third weekly gain to the US Dollar Index (I.USDX) while the EUR remained a bit weaker with no major progress in EU-UK talks and an attack in France dragging the regional currency down. The GBP registered first positive week in four after the BOE disappointed global markets by asking some more time to analyze the economy and give the rate-cut while Theresa May’s positioning as PM shrugged-off rencet political uncertainty in the Britain. The JPY kept weakening in the wake of expectations favoring mammoth asset purchase program by the Bank of Japan (BoJ) and the AUD also remained upbeat with market players run for high interest-bearing currencies. Further, the NZD dropped heavily after the RBNZ announced for a release of surprise economic-check statement while the CAD also gained after the Crude prices marked a positive week.
During early week, the New Zealand’s consumer price index rose less than expected in the second quarter, giving further fuel to speculations concerning RBNZ’s rate-cut while vanished coup in Turkey provided additional damage to the JPY and Crude prices.
There prevails a holiday in Japan on Monday while no important economics to track for the rest of the day, giving help to expect pre-established moves in favor of USD and GBP to the market players.
Have a nice and safe-day….