The euro is rising as surveys out of the broader Eurozone showed higher-than-expected consumer and business confidence, which continues to reflect the region’s perceived economic resilience. A slew of producer and consumer inflation readings from France, Germany, and Portugal are also showing positive results and lifting the shared currency.
Meanwhile, the pound is tumbling after last night’s consumer survey showed people were slightly pessimistic about the UK’s economic future. No other big data is scheduled to come out from the UK today.
Closer to home, the US dollar is trending lower as consumer confidence levels were lower than analysts expected. The greenback has been trending lower all morning, despite consumer prices rising more than expected and US GDP growing by a stronger-than-expected 2.9% in the third quarter.
In the Pacific, the Australian dollar is trading lower after last night’s underwhelming producer inflation results. The Japanese yen is slightly up against a weaker US dollar.
EURUSD: The euro is rising on positive confidence levels out of the Eurozone.
GBPUSD: The pound is down after last night’s consumer confidence survey showed pessimism.
AUDUSD: The Aussie dollar is down after last night’s poor producer inflation results.
USDCAD: The Canadian dollar is down as oil prices fall toward $49 per barrel.