FX News

FX Update: this week’s key points

Key Points:

US Inflation came in lower at 8.5% from 9.1% in June with Fed’s George saying it’s not time yet to be celebrating
US Existing Home Sales 4.81M vs 4.89 prediction
Canada’s Producer Price Index for July -2.1% vs -1.1% in July
The US Dollar (USD) is the strongest currency this week while the New Zealand Dollar (NZD) has been the weakest on the main board of currencies
Fed Minutes has all but confirmed a hike of 50 points at their September policy meeting
ECB’s Schnabel says the outlook for the ECB has not changed, growth is going to be slow and a recession in the area is possible

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