Currency Market Update: August Highlights and Projections
In their August 2017 Currency Outlook report, Tempus, an exchange rate and global payments company, provides a detailed report including the following topics and sections:
In Brief
- US GDP growth lower than anticipated
- US Dollar weakened against major currencies such as Canadian Dollar and Euro
- Stock indexes thrived, hitting all-time records
- Euro-zone economies sustained growth
- Politics playing major role in currency exchange
In Focus
- Although the US Dollar is down, the Canadian Dollar surged to its best level since 2015, and the Euro is at its 2-year best.
The View – Economic divergence weighing on the dollar
- As the economy slows in the US, other major nations experience success
- Unemployment decreased as central banks started to shed some of the easing that was in place to jumpstart business
- Energy advancements creating a problem for oil-producing nations
- Although Canadian inflation is not where the Canadian central bank had hoped, interest rates were increased, thus marking the first major central bank to hike rates, following the financial crisis, excepting the Fed
IBC Members can download the complete Currency Outlook from the members-only section of the IBC website under the Special Reports section. IBC membership is free for all regular IHA members – to learn more and to join, visit the IBC membership information page.
