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Market Update

EncoreFX’s daily market updates are written by our experienced and professional dealing team.

Spotlight on U.S. Inflation Data | CAD Holding Near 52-Week High

Published July 14, 2017
  • U.S. inflation and consumer data both came in below projections this morning, leading to further skepticism regarding another Fed rate hike this year
  • Fed Chair Yellen’s testimony this week suggested rising inflation data could be an impetus to increase rates. Strong consumer retail data also generally indicates economic growth
  • Oil is up this morning ahead of today’s U.S. rig count data, with gains this week supported by a larger-than-anticipated inventory draw
  • The British Pound is strong today after hawkish comments from BoE policy member McCafferty suggested unwinding its quantitative easing program