Canada will announce its monthly GDP on July 31, at 15:30 MT time.
Greenback slides after Yellen
On Thursday, the evergreen buck decreased versus a currency basket after Fed Chair Janet Yellen repeated that rate lifts would be gradual. Meanwhile, the Canadian dollar approached 13-month peaks after Canada’s major financial institution raised interest rates.
The US dollar index, which estimates the US currency’s value against six crucial currencies, declined 0.26%, trading at 95.30, which is close to the nine-month minimum of 95.22 achieved in late June.
Market participants are waiting for Friday’s American inflation figures for June due to their potential impact on the key US bank’s policy.
The greenback stood still versus the Japanese yen. The currency pair USD/JPY reached 113.13, having dipped to a one-week minimum of 112.87 overnight.
The common currency edged up, with EUR/USD soaring 0.32% and getting to 1.1447, rebounding to the 14-month peak of 1.1489 hit on Wednesday.
The Canadian dollar tacked on, with USD/CAD showing 1.2739, which is not far from the 13-month minimum of 1.2679 hit on Wednesday after the Bank of Canada raised interest rates.
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
The US unemployment claims are announced on Thursday at 15:30 MT time.
The market has started the week with a mixed sentiment…
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.