Forex Market Analysis

Where for the US Dollar this week?

Where for the US Dollar this week?

We have a possible interest rate hike for the Pound later this week and so we can expect GBPUSD to take a bid tone. There are talks and expectations that NAFTA talks will get ramped up with the Mexican government hinting of an early conclusion, in which case we can expect to see a bid tone in the Peso and Canadian Dollar. The Japanese Yen was firming against the Dollar at the time of writing due to a good June number in Retail Sales.

With the Australian and New Zealand Dollar looking to continue their upward move against the USD from Friday and with the above in mind we should expect a softer US Dollar at least until late in the day BST on Thursday





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