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By xemarketanalysis March 12, 2018 1:52 pm
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    XE Market Analysis: US Dollar Drops on Wage Inflation

    OVERVIEW

    • US Dollar drops against a basket of currencies on poor wage inflation.
    • Loonie dips lower on oil price drop.
    • Sterling stronger on risk demand.

    HIGHLIGHT

    There is no highlight for today's Currency Market Analysis.

    US DOLLAR

    The US Dollar has given back some of Friday's gains as the focus on wage inflation looks like it will slow or totally stop the FED from continuing its aggressive interest rate hiking plan. 

    BRITISH POUND

    Risk appetite into the new week has helped the Sterling stronger against the Dollar and left it unchanged against the stable Euro. The move stronger was limited and capped by the Brexit issue and the upcoming EU summit later in the month. 

    EURO

    The Euro is stable after the ECB last week and looks set to be driven by tariff discussions with the US and the EU summit due later in the month. 

    CANADIAN DOLLAR

    The Loonie has given back some of last week’s gains as the Canadian currency followed the price of crude oil lower. Oil prices were lower on the back of the forecasted increase in the supply of oil out of the US.

    AUSTRALIAN DOLLAR

    The Aussie Dollar had a good day today as risk appetite continued into the new week after positive jobs numbers were released from the US late last week. The commodity currency is often a target for the carry trade, taking advantage of higher yields. 

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