Canadian GDP: the end of loonie’s consolidation?
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
Yen declines after NKorea missile test
On Wednesday, the Japanese yen traded modernly weaker in Asia, as a medium-range ballistic missile test by North Korea ahead of an upcoming summit between American President Donald Trump as well as Chinese President Xi Jinping rattled nerves. Additionally, financial markets looked ahead to American jobs data to set the overall tone.
The currency pair USD/JPY hit 110.78, adding 0.03%, AUD/USD reached 0.7571, inching up 0.08%.
The US dollar index, measuring the US dollar’s strength against a basket of six crucial rivals, slid 0.04%, getting to 100.38.
Overnight, the greenback traded higher against a basket of key currencies, following the publication of positive American trade data, while traders shifted focus to the Trump-Xi gathering.
In America, on Tuesday, the Commerce Department told that the trade deficit tumbled by 9.6% to $43.6 billion. As for January's trade deficit, it was revised from $48.5 billion down to $48.2 billion.
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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.
Latest news
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.
GBP is in focus
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…
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