There have been signs of the US dollar perhaps wanting to top out in recent days, but at the same time, the trend has been strong, and it’s going to take more to really make a dent and get things going the other way.
Already ahead of the North American open on this Thursday, we’re seeing renewed dollar demand, albeit mild demand thus far.
There wasn’t a lot to chew on with respect to the eurozone calendar, though we did see more weakness in the pound after UK GDP reads disappointed earlier today. The Yen made a run as expectations continue to build for another BoJ rate hike next week.
We also saw the Australian dollar taking in an Aussie employment report that was a lot less encouraging when looking beneath the surface. Looking ahead, we get a busy calendar featuring the ECB minutes, Canada housing starts, US retail sales, initial jobless claims, the Philly Fed, business inventories, and NAHB housing.
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