Canadian GDP: the end of loonie’s consolidation?
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
Greenback stands still as Fed minutes awaited
On Wednesday, the US currency was intact versus a basket of the other key currencies after a holiday in America, as traders waited for the minutes of the Fed’s latest gathering later in the day.
The US dollar index, assessing the greenback’s value versus a trade-weighted basket of six crucial currencies, showed 95.96.
The US dollar soared versus the Japanese yen, with USD/JPY adding 0.19% and hitting 113.49, having dropped to an overnight minimum of 112.83.
The Japanese yen remained underpinned overnight amid surging geopolitical tension a day after North Korea launched an intercontinental ballistic missile, reportedly capable of carrying a large nuclear warhead.
The greenback managed to regain ground as financial markets moved on following a brief bout of risk aversion.
The Fed was expected to issue minutes from its June policy gathering later on Wednesday. Market participants are waiting for fresh indications on the future path of American interest rates ahead of Friday’s major jobs report.
The common currency pushed higher versus the greenback, with EUR/USD leaping 0.15% and showing 1.1366.
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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.
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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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