Last week we saw a continuation of the previous few weeks especially in equities as they moved to new highs.
The FX market has lost focus recently as eyes are on other areas of the market. Equities are rallying and Crypto has awoken with a bang.
The weeks highlight was the release of the Core CPI number which is showing a slowing trend. The US Dollar is still struggling to break higher and the DXY ended the week fractionally lower.
Both the GBP and EUR continued their range bound weeks. The Eurozone CPI came in 0.1% higher at 2.6%. The Pound failed to move anywhere with lack of any meaningful data meant it drifted through the week.
Commodity currencies once again failed to make any headway as the Dollar drifted and Oil prices rose. The biggest loser was NZD, but other currencies failed to make any impact.
The week ahead gives us our monthly non-farm payrolls and perhaps this could be a catalyst for FX markets. We would expect to see the continued strength in crypto and equities.
Weekly Majors’ Market Performance
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The post Trend Continuation for the Week first appeared on JP Fund Services.
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