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Market Update

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

USD Stronger Against Most Major Currencies Heading into Inauguration Day

Published January 20, 2017
  • President-Elect Trump is sworn in at noon today, becoming the 45th President of the United States
  • Fed Chair Yellen again backed her rhetoric on gradual rate hikes but investors are steering their focus to Trump
  • Equity markets begin on positive footing while anxiety appears to be lingering over what to expect from President-Elect Trump as he takes office
  • Oil is up 2.4% as CAD trickles weaker 
  • Sterling pound fell after disappointing Retail Sales data; the largest fall in 4 ½ years
  • Growth in the Chinese economy accelerated for the first time in two years with retail sales noted as the main driver
  • Canadian Inflation Rate rose to 1.5% in December; Canadian Retail Sales rose 0.2% month over month, and less than expected

Charts (1) Global Foreign Exchange Rates