The US dollar is moving higher this morning as revised GDP data showed the economy grew by 1.4% during the second quarter of the year, or slightly less sluggish than the last Q2 reading which showed 1.3% growth. Like yesterday, several Fed members are scheduled to speak this morning with Fed Chair Janet Yellen to give a speech this afternoon. If these speeches reflect economic optimism, the market odds for an interest rate hike in December could rise along with the dollar’s value.

The pound is trading lower against a stronger dollar with mixed borrowing data from UK consumers. August’s consumer credit results showed more individual borrowing than expected while mortgage approval activity shrank slightly more than analysts had anticipated, despite mortgage rates falling near record lows. We’ll learn more this evening with the release of the Gfk Group’s consumer confidence survey, which is expected to show slightly less pessimism from consumers than in August.

The euro is also down against the rising greenback with mixed economic sentiment. While several Eurozone business surveys show slightly more optimism about the regions’s economy than expected, consumer confidence levels are showing a slightly pessimistic outlook for the Eurozone economy. Germany’s unemployment claims also unexpectedly grew in September, which is putting some downward pressure on the euro as well.

The Australian dollar is falling against a stronger US dollar as investors await tonight’s release of the latest new home sales results and July’s private sector credit activity. The Canadian dollar is also trading lower as oil prices dip below $47 per barrel. Oil prices rallied earlier thanks to an announcement that OPEC would finally cut its oil production to boost barrel prices.

EURUSD: The euro is trading lower against a stronger US dollar with mixed Eurozone business and consumer confidence.

GBPUSD: The pound is also down against the rising greenback with mixed borrowing results.

AUDUSD: The Aussie dollar is falling against a stronger US dollar as investors wait for tonight’s new home sales results and July’s private sector credit numbers.

USDCAD: The Canadian dollar is also down as oil prices recede below $47 per barrel.