Currency Market Trend Analysis: June 26, 2017

Ryan June 26th, 2017

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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
June 26, 2017	ECB President Draghi’s Speech	EMU
June 26, 2017	Durable Good Orders (May)	USA
June 27, 2017	BoE Governor Carney’s Speech	UK
June 27, 2017	Financial Stability Report	UK
June 27, 2017	ECB President Draghi’s Speech	EMU
June 27, 2017	Fed Yelen’s Speech	USA
June 28, 2017	Fed Monetary Policy Report	USA
June 29, 2017	Consumer Credit (May)	UK
June 29, 2017	CPI (Jun)	Germany
June 29, 2017	GDP (Q1)	USA
June 30, 2017	GDP (Q1)	UK
June 30, 2017	GDP (Apr)	Canada
June 30, 2017	CPI (Jun)	EMU

Upcoming bank holidays and impactful report releases for select countries.

Market Analysis

CAD - Canadian Dollar

The CAD opened last week at 0.7589 and closed at 0.7539.

The CAD depreciated 0.66% against the USD last week, in wake of worse-than expected CPI figures. This depreciation was partially counteracted by rising oil prices.

1. GDP (Apr): Friday June 30.

GBP - British Pound

The GBP opened last week at 1.2778 and closed at 1.2727.

The GBP depreciated 0.4% against the USD last week, riding on political uncertainty created in the wake of the hung parliament. This Monday, DUP leader Arlene Foster will be meeting with PM Theresa May to discuss the formation of a minority government.

Between this meeting, BOE Governor Carney’s speech, and Friday’s Q1 GDP announcement, expect a volatile week.

1. BOE's Governor Carney Speech: Tuesday June 27.

2. Financial Stability Report: Tuesday June 27.

3. Consumer Credit (May): Thursday June 29.

4. GDP (Q1): Friday June 30.

EUR - European Union Euro

The Euro opened last week at 1.1190 and closed at 1.1197.

Over the past week, the Euro has appreciated 0.07% against the USD – remaining relatively unchanged. Following this morning’s poor US durable goods orders report, expect appreciation against the USD.

ECB President Draghi will be giving a speech on both Monday and Tuesday, increasing potential volatility. The week will cap out with updated CPI data for Germany and the EMU.

1. ECB President Draghi's Speech (EMU): Monday June 26 and Tuesday June 27.

2. CPI (Germany, Jun): Thursday, June 29.

3. CPI (EMU, Jun): Friday, June 30.

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About the Author

Collin McAliley - Financial Analyst

Collin 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?

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