OANDA Senior Market Analyst Alfonso Esparza reviews the major upcoming market news, macro analysis and economic indicator releases that will impact currencies, stocks other asset classes.
Dollar Mixed as Trade War Risks Escalate
Dollar Solid Ahead of July 4 Holiday
The US dollar is mixed against most major currencies on Tuesday. The market has been trading in a tight range ahead of the 4th of July holiday.
The Canadian dollar was the single currency that appreciated versus the greenback last week. The loonie moved higher with the release of a stronger-than-expected monthly GDP number on Friday.
The softer trade comments also helped dissipate the risk aversion sentiment lifting the Canadian currency.
Oil prices in North America are higher as lower supply due to disruptions put WTI crude above $74. US jobs data will be released on Friday, July 6, at 8:30 am EDT, with Canadian employment data also due at that time.
- RBA kept rates unchanged at 1.50% on Tuesday as expected.
- FOMC meeting minutes to be published on Thursday.
- Canadian and US employment data due on Friday.