Last week the US dollar reversed the decline seen over the last couple of weeks. Modest gains were made as rising yields and stronger than expected NFP number saw elevated volatility in risk assets
The Euro had a mixed week as more ECB comments became hawkish. With Eurozone inflation running in excess of 8% the pressure is mounting on the ECB to act and act decisively
The pound had a troublesome week. The market is finding it hard to turn positive with the UK economy continuing to show strong signs it is turning lower and stagflation risks continue to rise.
Commodity currencies had a quiet week with only CAD making any moves. the CAD gained almost 1% during the week gaining strong support as WTI gained nearly 5% during the week to close above $120.
The Yen was the weeks worst performer losing almost 3% vs the US Dollar. and underperformed vs all the majors. This was as bonds began to react to inflationary and central bank pressure. benchmark yields rose in the US and Europe.
The week ahead sees the RBA interest rate decision but overall lighter on the economic front allowing markets to settle down.
Weekly Majors Market Performance
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The post <h5>Cromwell FX Market View</h5> <h3>US Dollar Rebounds. Markets Look For Direction</h3> appeared first on JP Fund Services.
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.
