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Greenback Lower for a Fifth Session

FOREX
  • The greenback is softer for a fifth consecutive session, with USD index showing below yesterday's lows to touch the poorest level since late June. Major support undercuts at the 50-, 100- and 200-dmas that cross between 91.35-91.54.
  • This morning's Eurozone data had little market impact, but confirmed a slow down in core price growth across the Euroarea, with Core Y/Y slowing to 0.7% from 0.9%. EUR remains bid, with EUR/USD topping 1.19 to touch a new July high at month-end.
  • GBP, CHF and CAD are the strongest currencies in G10, while NOK, USD and JPY are the weakest.
  • Focus turns to the upcoming US PCE release, expected to tick slightly higher from the previous, while the MNI Chicago PMI is seen slowing to 64.1. Canada's monthly GDP data is also due, with Y/Y growth expected to slow to 14.8% from 20.0% previously. Fed's Bullard is due to comment on policy and the economy at 1400BST/0900ET, the first Fed member to speak since Wednesday's rate decision.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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