The pound is falling to fresh post-Brexit lows as British Prime Minister Theresa May released more details about the UK’s official plans to leave the European Union. Pound dives to fresh post-Brexit lows with new 2017 Brexit plan detailsMay says the goal is to begin the process by the end of March 2017, though British leaders still have to work out policies related to trade markets and immigration. The uncertainty behind the details and trade agreements is putting downward pressure on the pound. That said, stronger-than-expected UK manufacturing results for September is helping to offset some of the pound’s losses this morning.
The euro is trading mostly flat as Italy, France, Germany, Greece, Spain, and the broader Eurozone mostly enjoyed stronger-than-expected manufacturing output during September, suggesting a still-resilient region in the aftermath of Brexit.
The Australian dollar is climbing as investors await the Reserve Bank of Australia’s interest rate decision tonight, as well as job advertisements and building permits data. While most analysts expect the RBA to hold interest rates steady, a surprise interest-rate cut could cause the Australian dollar to decline overnight.
The Canadian dollar is getting a boost this morning as oil prices continue to climb. The Japanese yen is mostly unchanged as vehicle sales grew by 3.7% year-over-year in September, as analysts had expected.
EURUSD: The euro is trading mostly flat despite stronger-than-expected manufacturing output throughout the Eurozone.
GBPUSD: The pound is falling to fresh post-Brexit lows as more Brexit event uncertainties come to the fold.
AUDUSD: The Aussie dollar is up as investors await the RBA’s interest rate decision tonight.
USDCAD: The Canadian dollar is rising as oil prices climb past $49 per barrel.