Retail data may shake the loonie
Canada will publish the headline and core retail sales on January 24 at 15:30 MT time.
UK pound and Turkish lira are pressured, greenback stands still
On Monday, the UK currency and the Turkish lira were suppressed in the foreign exchange market, while the evergreen buck was intact versus a group of its primary counterparts in holiday-thinned trade.
The UK currency slumped to the lowest value of the day after data disclosing that British manufacturing activity went down to its lowest value for two years in August, suppressed by worries over Brexit as well as the US-China trade conflict.
The currency pair GBP/USD slumped by 0.77% being worth 1.2857. It dived from an intra-day maximum of 1.2933.
The UK currency managed to extend early losses following a report disclosing that British manufacturing index headed south to a 25-month minimum of 52.8 in August in contrast with July’s outcome of 53.8.
The UK currency had already been pressured after the EU’s chief Brexit negotiator Michel Barnier told that he strongly dislikes UK Prime Minister Theresa May’s recent proposal on future trade after Brexit.
The remarks contributed to worries as for the prospect of a no-deal Brexit.
The UK currency slumped versus the common currency. The currency pair EUR/GBP rallied by 0.85% being worth by 0.9028.
In addition to this, the Turkish lira proceeded with its dive in the face of ongoing fears over the country’s economic as well as currency downtime.
Monday’s data disclosed that in August Turkish inflation rallied to a 15-year maximum of 17.9% from July’s outcome of 15.9%, showing that the steep selloff in Turkey’s currency is powering consumer prices.
Estimating the greenback’s purchasing power versus a bunch of its main rivals , the USD index kept to one-week maximum of 95.10 because fears over global trade clashes backed safe haven demand for the evergreen buck.
The currency pair EUR/USD hit 1.1608, while USD/JPY demonstrated 111.13.
Similar
The ECB and the euro: surrounded by skeptics
The European Central Bank will publish its monetary policy statement and announce the main refinancing rate on January 23 at 14:45 MT time.
Will the BOC bring a challenge to the CAD traders?
The Bank of Canada (BOC) will release its rate statement alongside the monetary policy report during its meeting on January 22 at 17:00 MT time.
Latest news
Retail data may shake the loonie
Canada will publish the headline and core retail sales on January 24 at 15:30 MT time.
The ECB and the euro: surrounded by skeptics
The European Central Bank will publish its monetary policy statement and announce the main refinancing rate on January 23 at 14:45 MT time.
Trump, Davos, USA
Donald Trump spoke at the World Economic Forum in Davos. You have to hear this.
Deposit with your local payment systems
