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Market Update

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

USD Rally Fades as Federal Reserve Raises Questions on Rate Hike Timing

Published July 6, 2017
  • The US dollar's rebound yesterday faded this morning after the minutes from the Fed’s FOMC policy meeting did not provide a clear indication of future rate increases
  • Canada’s trade deficit increased almost 100% in May, with both imports and exports reaching record highs
  • Oil jumped over 1% today on larger than anticipated inventory draw downs
  • Market participants are anxiously awaiting tomorrow’s employment/jobs data out of both Canada and the US