DailyFX Senior Currency Strategist Christopher Vecchio, CFA reviews the performance of markets in the first half of the week, as well as the outlook for key FX pairs in the second half.
The first few days of the week have been rather quiet, again, but the rest of the week is saturated with significant event risk that will move FX markets. The Bank of Canada rate decision today will help clarify rate expectations for the rest of 2017, while the European Central Bank rate decision tomorrow will bring forth news on the pace of the QE stimulus program.
Other topics covered include:
– What has been the main driving factor behind the US Dollar rise in recent days?
– What should traders expect out of the ECB meeting on Thursday?
– How will the BOE’s rate hike next week impact recently bullish GBP-crosses?