Pound, Euro and US Dollar Waver amid Lack of Data

Pound (GBP) Wavers amid Lack of Data

The Pound (GBP) fluctuated without a clear direction yesterday as a lack of British economic data left the currency to trade sideways.

Recent Bank of England (BoE) interest rate rise expectations may have underpinned the Pound, while recession worries pressured it.

Turning to today, an expected decline in the Confederation of British Industry’s (CBI) order book balance could put pressure on GBP.

Euro (EUR) Fluctuates Higher despite German Data Miss

The Euro (EUR) also experienced some volatility yesterday, though it managed to trend higher against some of its rivals.

There was no clear catalyst for the upside, especially as German producer price inflation for July surprised to the downside on Monday morning.

Notable Eurozone data is thin on the ground today. As a result, the Euro could trade without a clear directional bias.

US Dollar (USD) Shored Up by Rising Treasury Yields

The safe-haven US Dollar (USD) saw choppy trade yesterday as the market mood wavered, with a slight improvement in risk appetite dampening the currency’s appeal.

Ultimately, however, a sharp rise in US Treasury yields kept the ‘Greenback’ modestly supported.

Later this evening, two Federal Reserve officials are due to speak. Any hints about monetary policy plans could impact USD.

Canadian Dollar (CAD) Turbulent amid Volatile Oil

The Canadian Dollar (CAD) spiked and then slumped yesterday, trading in tandem with oil prices. Tighter supplies saw crude hit almost $82.50 per barrel before dropping back down to around $81.30.

During today’s session, an ongoing lull in Canadian data could leave CAD to trade on oil prices once again. Could more uncertain movement see CAD fluctuate?

Australian Dollar (AUD) Ticks Higher as Mood Improves

The Australian Dollar (AUD) moved broadly higher during the overnight session, jumping this morning, as an improving mood lifted the risk-sensitive currency.

New Zealand Dollar (NZD) Firms amid Increased Risk Appetite

Likewise, the increased appetite for risk lifted the New Zealand Dollar (NZD) last night.

Samuel Birnie

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