img CDN
img AUS
img NZ
img US
Call us now: 1.844.363.7297
imgOnline Dealing Login

Market Update

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

USD Extends Gains on Upbeat US Data, Fed Rate Hike

Published June 15, 2017
  • The US Federal Reserve raised interest rates yesterday for the second time this year, to a range of 1.0%-1.25%
  • The hawkish Fed combined with WTI Crude at $44.56 took USDCAD back up to highs of 1.3293
  • Gold prices are under pressure today, approaching a 3-week low after the Fed also maintained plans to go ahead with another increase by the end of the year
  • Oil is still trading lower as data yesterday showed US crude stockpiles shrank less than anticipated, while gasoline inventories increased