As we predicted, Fed Chair Yellen took an optimistic stance this last week on the US and global economic outlook.
This is your binary options and forex video news update for April 11 through the 15th, 2016.
Of course she was needing to offset her previous week’s cautiously toned speech and the dovish minutes from the Fed meeting.
The markets saw through it and along with the rebound in oil, due to the drop in U.S. production numbers, had the USD reeling against its major currency counterparts.
Will the trend continue to draw blood from the USD?
The oil rally will be a key component for the week. As usual, everything bounces off the USD and here’s a few of the key releases to look out for this week:
- The Loonie will have its rate statement on Wednesday and with the bounce in oil, the BOC may be looking to turn the corner and gain momentum.
- The Sterling will have its rate statement and monetary policy summary on Thursday. The conservative stance from the committee will have the doves soaring above the BOE. Expect good action on the cable upon the releases, but it appears that a weak tone may set a weak game for the Sterling to finish out the session.
- For the USD, be ready to jump in on the action as things steady from releases for Retail Sales, PPI and CPI numbers, Unemployment Claims data that will be scattered throughout the week. Consumer sentiment at the end of the week will also give clues on who’s biting on the outlook for the USD and who’s already feeling the bite from the realities of underlying economic sluggishness.
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