XE Market Analysis: Currency Market Nervous about Taxes on Tequila, Tamales and Guacamole and

Comments are off

OVERVIEW

  • The US Dollar is trading lower across the board, weighed down by dovish comments from Fed Chair Powell

  • USD/CAD ignores sliding oil prices and drops to a two-week low.

  • Gold continues to increase, adding 13 dollars to trade near $1340 an ounce.

HIGHLIGHT

The EUR/USD pair climbed to a two-month high, carried by a general weakness in the US dollar. The market believes that the Fed is turning dovish, following recent comments from  Powell.