The Weekly Wrap – Upbeat Omicron News Delivered another Dollar Loss
It was another bearish week for the Greenback, with a pickup in market risk appetite weighing. The Pound and the Loonie were front runners in the week.
For the Greenback, it was a 2nd consecutive week in the red. In the week ending 31st December, the Dollar Spot Index declined by 0.36% to 95.670. In the previous week, the Dollar had fallen by 0.57% to 96.019.
Jobless claims was the key stat in the week, with the markets looking to assess the impact of the Omicron strain on labor market conditions.
There were no major stats to provide the Pound with direction. Market bets of a more hawkish outlook on Bank of England monetary policy delivered support, however.
Unemployment figures from France and inflation figures from Spain were the key stats in the week.
It was a particularly quiet week, with no key stats from Canada to provide direction. The lack of stats left market risk sentiment to influence in the week.
@TransAmericanFriendship
