Ready to Start Trading?

Open a Live or Demo account online in just a few minutes and start trading on Forex and other markets.

Apply online

Any Questions?
Contact us:

phone: +1 849 9370815

email: sales@tradersway.com

Join Us in Just 1 Minute!

Download MT4
MT5 Terminal

Forex Major Currencies Outlook (July 14, 2017)

USD 

The US dollar was unable to establish a clear direction in trading even with several top-tier reports released.

Headline PPI came in better than expected with a 0.1% uptick versus the projected flat reading while the core version of the report also showed a 0.1% increase, short of the 0.2% consensus. Initial jobless claims declined from the other week's 250K to 247K to show positive hiring momentum. Fed head Yellen had another testimony in which she shared that the balance sheet runoff could impact the yield curve and that this, in turn, could influence their future rate adjustments. CPI readings are due today and small gains are eyed, along with June retail sales data. 

EUR 

The euro tossed and turned as ECB chatter pushed the shared currency around. There have been rumors that Governor Draghi will join the Jackson Hole Symposium and that he might discuss the idea of tapering stimulus then. As for data, German and French final CPI readings were unchanged and trade balance readings from Italy and the euro zone are lined up today. 

GBP 

The pound was able to recoup its earlier losses to the dollar, yen, and euro but was still lower against the comdolls. There were no major reports out of the UK economy yesterday, which explains the currency-specific price action of pound pairs. There are still no reports lined up from the UK today so similar price action could be seen. 

CHF 

The franc was one of the biggest losers in recent sessions as traders showed stronger appetite for higher-yielding currencies, leaving the SNB's negative deposit rate less appealing. Swiss PPI also turned out weaker than expected with a 0.1% dip versus the projected flat reading. There are no reports due from the Swiss economy today. 

JPY 

The yen also gave up ground to most of its counterparts as risk-taking was in play. There have been no major reports out of Japan yesterday while today has the revised industrial production figure due. Apart from that, global bond yields and USD demand could also push yen pairs around. 

Commodity Currencies (AUD, NZD, CAD) 

The comdolls were able to chalk up gains against the rest of their peers thanks to the pickup in risk appetite. Chinese trade balance also beat expectations, sending positive prospects for its trade partners Australia and New Zealand. There are no other reports lined up from the comdoll economies for the rest of the day so risk sentiment could be the main driver of price action. 

By Kate Curtis from Trader's Way

Any Questions?
Email Us: sales@tradersway.com

bob@tradersway.pro/pl
Quotations
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread

2023 Martin Luther King Holiday Schedule

Due to the Martin King Holiday on 16 January, 2023, market activity and liquidity may be lower than usual....

Learn more

Join Us in Just 1 Minute!

Download MT4MT5 TerminalMetaTrader for Mac
TradersWay's Facebook TradersWay's Telegram Channel TradersWay's Twitter TradersWay's Instagram
bob@tradersway.pro/pl