Currencies
Weekly changes: EURUSD -0.69% , GBPUSD -0.75% , USDJPY +0.16%, AUDUSD -1.09% , USDCAD +0.74%
The EURUSD pair finished Friday at a monthly low of 1.17239. At the same time, the American consumer prices showed their slowest pace in half a year. The market anticipated the CPI signal as the peak of the local inflation. However, the greenback's strength determined the pair's behaviour afterwards.
GBPUSD was the second-worst performed significant pair. The pair closed at 1.37260, repeating the lows of the previous week. The BoE will hold its monetary policy this week, the day after the Fed's meeting. These events will add volatility to the pair.
USDJPY reached 110.152 in the mid-week but closed Friday a bit lower, at 109.955. The pair fluctuated to the lows of 109.100, affected by the American debt ceiling turbulences but managed to gain a positive result within a week.
AUDUSD had the weakest performance level among the majors last week. The pair closed at 0.72608, showing a decline for the second straight week.
USDCAD outperformed all majors last week. The pair touched 1.27720 and slightly consolidated by the end of Friday, closing at 1.27657.
BULLISH TRIGGERS
USDJPY remained positive at the end close of the week. The bullish greenback paired the growth of U.S. Treasury yields, giving the currency pair an advantage over the negative American debt ceiling sentiment.
USDCAD climbed to the monthly highest level. The Canadian dollar weakened due to the oil's decline last Friday and the forthcoming Canadian elections.
BEARISH TRIGGERS
Besides the U.S.dollar's current strength, the ECB's official stated the local inflation expectations to continue to accelerate until November. That brought EURUSD more extra impulses for lower moves.
The U.K. retail sales actual data showed -3.5% than the estimated levels. The concerns on the British economic recovery led to GBPUSD decline.
AUDUSD has been declining throughout the month. The ongoing instability in China, the Australian major trading partner, weighs on the AUD. On the other hand, the latest Australian job report showed the most significant job loss since May 2020. The RBA Minutes, released this week, will explain the impact of the monetary steps of the central bank towards the crisis' overcome.
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