We’ve seen an extension of US dollar weakness in recent sessions, partially on the back of deteriorating consumer sentiment in the US and perhaps partially due to the risk-on reaction to the US avoiding a government shutdown.
Elsewhere, it finally looks like the Greens have backed up Germany’s massive fiscal plans, which has been helping to keep the Euro supported. The pound has come under some pressure on contractionary growth data out of the UK this past Friday. The selling is mostly attributed to worries around automotive tariffs from the US.
The Australian and New Zealand dollars have been better bid on news of fresh China measures to boost consumption. Over in Canada, Mark Carney has been sworn in as the new PM.
Finally, the gold market has paused for a breather after the yellow metal finally cleared 3000.
Looking ahead, we get Canada housing starts and foreign security purchases, US retail sales, New York Empire manufacturing, an ECB Lagarde speech, and US business inventories.
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