Each week our Sales Manager Jorn Andriessen will be giving us a snapshot update of the highs and lows of the foreign exchange market. If you would like any further information, please email Jorn@airwallex.com
The US dollar will finish the week ending on April 7 on a high note despite the US non farm payrolls (NFP) missing expectations.
The US airstrike against Syria in particular caused a wave of USD selling but as the day went on the currency recovered along with the risk appetite of investors. Members of the G7 will meet in Italy on Monday for a two-day prescheduled meeting that has risen in importance given current events.
The highlight of the week in economic data will be the US retail sales and inflation data to be published on Friday.
How the markets are looking this week
It's been another quiet week in terms of data:
AUD: The AUD fell again against the USD and the EUR last week. On Thursday we have Australian Unemployment change/rate, currently at 5.9%
USD: The US$ Index closed substantially lower last week.
Monday - the USD Fed Chair Yellen Speaks
Thursday - we have US unemployment claims
Friday - we have US retail sales and the consumer price index YOY March
EURO: The EURO fell against the USD last week. On Tuesday - we have Industrial production data YOY February
CNY: On Wednesday - we have the Chinese PPI index