Friday saw a raft of US economic data releases; these included Non-farm payroll figures, average hourly earnings and US unemployment rate.
2018 is predicted and has been the year where regulators have focused to control cryptocurrency with, at the very least, rhetoric about rule-making and enforcement.
Draghi chaired the latest European central bank meeting in Frankfurt this week. Pound-Euro rates can experience volatility during Draghi’s ECB speeches and this time no different.
Anxiety around the impact of global regulation on the cryptocurrency sector are clearly dissipating. Typically, we see regulatory tightening in phases; fear, the panic selling, then “cheap” coins. Then more positive rhetoric about a maturing marketplace soon to attract mainstream retail investors and institutional buyers.
If you want to know more, go to Switzerland – the home of the most conferences and seminars on cryptocurrency of any other nation in the world.
The Canadian Dollar continued to struggle against its US counterpart this week due to an array of circumstances that are widely outside of its control. The Loonie was hit hard due to the continuing lack of developments with the North American Trade Agreement negotiations, Trump’s new tariff announcements and Canada's Q4 GDP which saw growth miss expectations.
Thursday morning saw the US Dollar index trading at a 6-week high as appetite in the US stock market continued to fall. However, a shock announcement on trade tariffs on Steel and aluminium drove the US Dollar lower and sent stock markets plunging.
The majority of Sterling FX rates progress was fuelled by comments from the EU parliament who have called for more convivial Brexit talks following this week's continued negotiations.