Foremost Currency Group

Make the most of your currency

Talk to our friendly team:+44 (0)1442 892060

Coronavirus Vaccine Hopes Drive Risk Sentiment Higher

Pound News: UK Inflation Fails to Improve Sterling Outlook

The Pound climbed against the US Dollar and Euro today after the publication of Britain’s June inflation rate results. While inflation beat forecasts, they were not enough to notably improve the Pound outlook as concerns about lasting weakness in price pressures limit Sterling strength.

Tomorrow will see the publication of Britain’s June job market report. As the Bank of England (BoE) has expressed concern over the health of UK jobs, this data will likely have an impact on the UK outlook and the Pound.


Euro News: Eurozone Optimism Continues to Support Euro

While investors were hesitant to buy the Euro too much ahead of tomorrow’s European Central Bank (ECB) decision, the shared currency remains appealing. Hopes for a Eurozone economic rebound are keeping the Euro buoyed.

The European Central Bank (ECB) policy decision will drive movement in the Euro tomorrow, particularly if the bank takes a pessimistic tone.

Meanwhile, the Euro could face more challenges if Friday’s summit of EU leaders fails to convince all member states to support the EU’s €750 billion coronavirus recovery fund.


US Dollar News: Vaccine Hopes Keep US Dollar Weak as Risk Appetite Increases

Signs of progress in a coronavirus vaccine have left markets in generally high spirits. With investors still willing to take risks amid recovery hopes, the safe-haven US Dollar lacks appeal. The high number of coronavirus cases in the US is also weighing on the ‘Greenback’.

US retail sales data due tomorrow could boost market appetite for the US Dollar if it impresses investors. It could bolster hopes that US activity is more resilient than expected.


Canadian Dollar News: Coronavirus and Trade Jitters Weigh on CAD

The Bank of Canada (BoC) kept interest rates at the same levels today. While highlighting the economy is starting to recover, the BoC stated the Canadian economy’s outlook is extremely uncertain and would be slow to return previous levels of growth.

Surging coronavirus cases in the US have been weighing on the Canadian Dollar today along with US-China trade tensions and jittery oil prices.

The Canadian Dollar is likely to spend much of this evening and tomorrow’s session reacting to this afternoon’s BoC policy decision ahead of the OPEC+ meeting.


Australian Dollar News: Risk-Sentiment Keeps ‘Aussie’ Afloat

The Australian Dollar continues to benefit from improved market risk-sentiment this week, despite concerns over the domestic coronavirus outbreak in Victoria. Rising hopes for vaccine progress left the Australian Dollar one of today’s more appealing majors.

Australia’s June job market report, due tomorrow morning, could be one of the most influential prints of the week for Australian Dollar investors.




Upcoming Data


Thursday, 16th July

02:30    Australian Job Market Report

07:00    UK Job Market Report

07:45    France Inflation Rate

10:00    Eurozone Trade Balance

12:45    European Central Bank Policy Decision

13:30    US Retail Sales

13:30    Canadian ADP Employment Change

© Copyright 2013 to 2020 | Foremost Currency Group Ltd | All rights reserved