In their November 2017 Currency Outlook report, Tempus, an exchange rate and global payments company, provides a detailed report including the following topics and sections:

In Brief

• The Euro hit its lowest level since July 2017 as a result of European Central Bank retaining easing measures
• US GDP grew at 3% pace for Q3, outperforming the 2.6% estimate
• The GBP lost 2.4% value due to Brexit frustrations
• The Swiss Franc declined to its worst level since May 2017
• The USD reached a multi-month high as the Bloomberg Dollar Spot Index climbed 1.2%

In Focus

The Canadian Dollar fell 2.7% in October 2017 after disappointing GDP data was released.

The View – U.S. Dollar appreciation credited to healthy economic outlook.

• The US FED will increased Federal Funds Rate to 1.5% on December 13, 2017.
• Fed Chairwoman Yellen anticipates inflation, wages and spending will improve in spite of obstacles earlier in 2017.
• Chairman Yellen will be succeeded by Jay Powell as Chairman of the FED.  Powell is anticipated to have a similar approach to Yellen – watching indicators carefully before indicating moves.
• US retail sales exceeded September expectations at .5% and personal spending increased 1%.
• European Central Bank continues with sovereign bond purchase until September 2018 as a means to sustain job creation and lending, which could otherwise be at risk.
• The Euro’s decline forced European Central Bank rate hikes to be downgraded.
• Italian regions of Lombardy and Venice join Spain’s Catalonia in calls for separatism, with the desire for autonomy and sovereignty.
• October Brexit discussions reached deadlock and Bank of England hiked rates to combat high inflation and low wage growth, reflecting in a weakened GBP.

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.