The euro is trading choppy despite the fact that Germany’s businesses showed the most economic optimism in more than two years, while Italian businesses were about as optimistic as expected. Investors are now waiting on a speech from European Central Bank President Draghi set for later this morning. Tomorrow morning we’ll see Germany’s import price data, consumer confidence surveys out of Germany and France, and Italy’s retail sales results for August.
The pound is sliding ahead of a speech from Bank of England Governor Carney set for later this morning. The pound could fall faster today if his comments signal another potential interest rate cut from the BoE this year. Tomorrow will be another light day for data, with just September’s mortgage application results set to come out in the morning.
The US dollar is up slightly as investors await August’s home price data, two of the latest US consumer confidence surveys, and another preliminary October manufacturing reading from the Richmond Fed. Tomorrow morning will bring the latest business activity readings, as well as September’s goods trade data and new home sales numbers.
The Canadian dollar is falling as oil prices begin to dip. The Australian dollar is rising as investors await tonight’s consumer inflation data. The Japanese yen continues to weaken as investors continue to favor the US dollar’s perceived safe-haven qualities.
EURUSD: The euro is slightly lower ahead of a speech from ECB President Draghi.
GBPUSD: The pound is also down as investors await BoE Governor Carney’s speech this morning.
AUDUSD: The Aussie dollar is climbing ahead of tonight’s consumer inflation readings.
USDCAD: The Canadian dollar is falling as oil prices dip.