Weekley Update 08/15/22

AUD gained more than 3% over the USD.

• The AUD recovered the ground it lost after the US CPI and Inflation rate data was released last week.
• The Aussie is on a three-day winning streak; fundamental news will impact the AUDUSD exchange rate this week.

The CAD lost 1.2% to the USD last week.

• XTIUSD reached its lowest level in six months; Canada relies heavily on commodity exports, which affected the value of CAD at the beginning of the week.

US inflation rate comes out lower than expected.

• The USD lost value across all major Forex Pairs after the CPI and Inflation rate data release.
• The strong Labor Market in the US indicates that the economy is healthier than anticipated.

The UK released GDP and GDP Growth rate.

• The data came out better than expected but still in the contraction area
• The GBP lost ground to the US on the Friday session

Natural Gas climbed 14%

• The commodity is on a four-day winning streak. 
• The price rose after the production output declined three days in a row.

Expected High Impact Economic Releases

Monday

AUD- RBA Meeting Minutes

Tuesday

GBP- UK Unemployment rate

CAD - Canada’s Inflation Rate

JPY - Japan Balance of Trade

Wednesday

GBP - UK Inflation rate YoY

USD - FOMC Meeting Minutes

EUR - EA Employment Change YoY & QoQ

AUD - AU Unemployment rate

Thursday 

EUR - EA Consumer Price Index

JPY - Inflation rate YoY

Friday

GBP - UK Retail Sales

CAD- Canada Retail Sales 

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