The US dollar closed the week as the second weakest currency, only next to the British pound. The US dollar fell sharply over the week but managed to recover some ground on late Friday. Data over the week included weak nonfarm productivity data for the second quarter and a flat retail sales print. Despite a weak print, gold prices settled modestly higher, gaining 0.33% for the week after multiple attempts to breakout above $1350 failed.
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Weekly Spot FX Performance – 12/08/2016
Although oil prices started off on a weaker note, Oil managed to close higher and thus led the oil related currencies, namely the NOK and CAD to outperform over the week. The Norwegian Krone closed the week with 3.37% gains relative to the US dollar, while the Canadian dollar came in second, rising 1.66%.
Economic Calendar for the Week 15/08 – 19/08
