Canadian GDP: the end of loonie’s consolidation?
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
Greenback loses in Asia
On Friday, the evergreen buck lose in Asia, and safe-have yen demand gained because rhetoric between North Korea and the United States escalated with any missile launches by North Korea a potential flashpoint.
Tracking the greenback’s value versus a trade-weighted basket of six main currencies, the US dollar index edged down 0.06% being worth 93.24.
The currency pair USD/JPY demonstrated 108.97, losing 0.20%, AUD/USD hit 0.7847, declining 0.36%.
Overnight, the US currency was nearly intact versus a basket of key currencies because the flight to safety trade proceeded in the wake of ascending geopolitical tensions between America and North Korea. Meanwhile, dismal inflation data contributed to downside momentum.
The evergreen buck struggled for direction because data disclosed the slowdown in inflation was still unabated and initial jobless claims data beat expectations.
At the same time, initial claims for state unemployment benefits went up 3,000 to a seasonally adjusted 244,000 by August 5, as the Labor Department informed on Thursday.
Similar
Will the US economy help the greenback?
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
USD is waiting for the jobless claims!
The US unemployment claims are announced on Thursday at 15:30 MT time.
Latest news
What drives the market on August 10?
The market has started the week with a mixed sentiment…
Big day for USD
The US NFP will be published on August 7 at 15:30 MT time.
Main market movements on August 6
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
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