Despite a disappointing NFP on Friday the Dollar remained generally in control during the week. Yen lost across the board as treasury yields continued to rally. New Zealand dollar lost ground despite the RBNZ delivering its anticipated rate hike. Euro lost ground again as inflation pushed up to 3.4% YoY. Eurozone had expected higher inflation but not this high and it appears that the ECB is happy to warn against over reaction.
The Canadian Dollar continued its rise for another week. Firmer than expected employment numbers and the continued rise in oil prices which moved through 80 for the first time since 2014 pushed the currency higher. Aussie Dollar also gained due to continued strength in raw materials especially coal.
A quieter week ahead is expected with the US holiday on Monday and no central bank announcements. UK and Australia release their September job reports and later in the week the US release CPI and Retail Sales.
Weekly Majors Market Performance
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Peyman Khosravani is a global blockchain and digital transformation expert with a passion for marketing, futuristic ideas, analytics insights, startup businesses, and effective communications. He has extensive experience in blockchain and DeFi projects and is committed to using technology to bring justice and fairness to society and promote freedom. Peyman has worked with international organizations to improve digital transformation strategies and data-gathering strategies that help identify customer touchpoints and sources of data that tell the story of what is happening. With his expertise in blockchain, digital transformation, marketing, analytics insights, startup businesses, and effective communications, Peyman is dedicated to helping businesses succeed in the digital age. He believes that technology can be used as a tool for positive change in the world.
