A quiet start to the week, with the US Dollar solidifying recent gains, while equities stabilise. Markets are awaiting key data out of Asia, with the release today of the Japanese GDP growth number, while important data is also expected out of China. Japanese GDP is expected to expand to 3.1%, while Chinese Industrial Production has been challenging, in recent times. The stronger US Dollar has pushed the EUR back to 1.0920, while the Yen has weakened to 145.35.
The rising reserve pushed commodity currencies below key headline levels, with the AUD slipping below 0.6500, while the NZD continues to trade below the BIG figure of 0.6000. The stronger US Dollar and weaker economic demand for commodities, have worked to humble the associated currencies. Markets look ahead to today’s key economic data releases, while US markets look forward to the important Retail Sales number, later tonight.
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