US Dollar (USD)
The Dollar remained near its lows against the Euro and the Pound as risk appetite remained strong as Pending Home Sales came out better than expected at 3.6% versus 0.6% forecast. Personal Spending rose by 0.4% exceeding the forecast for 0.3% and 0.1% prior. Personal Income was worse than expected at -1.3% versus -0.9%. NASDAQ and Dow Jones rose by 0.13% and 0.36% respectively extending yesterday's gains. Crude oil dropped to 71.42$ an ounce after reaching a 10 month high. Gold (XAU) rose by 1.06% closing at 966.7$ an ounce. Today, the ADP Nonfarm Employment Change is expected to lower from -473K prior to -340K. The ISM Non-Manufacturing PMI is expected higher at 48.1 versus 47.0 prior. Factories Orders are expected to drop by -0.7% versus 1.2%.
The Euro traded on a narrow range versus the Dollar closing unchanged after European PPI came out better at 0.3% versus 0.2% forecast helping the Euro to keep its grounds versus the Dollar. Overall EUR/USD traded with a low of 1.4367 and with a high of 1.4432. Today, The European Retail Sales are expected to rise by 0.3% versus -0.4% prior and Final Services PMI is expected to remain at 45.6
EUR/USD - Last: 1.44
British Pound (GBP)
The Pound barely gained versus the Dollar after rising above 1.70 for the first time in 9 months. The Construction PMI came out better at 47.0 versus 46.0 forecast and 44.5 prior and Consumer Confidence came out at 60 higher than 59 forecast and 58 prior. Overall, GBP/USD traded with a low of 1.6890 and with a high of 1.7004. Today, the Halifax HPI is expected at 0.7% versus -0.5% prior. Manufacturing Production is expected to change by 0.0% versus -0.5% prior and the Services PMI are expected to slightly rise from 51.6 to 51.9. Industrial Production is expected at 0.0% versus -0.6% prior.
GBP/USD - Last: 1.6920
Japanese Yen (JPY)
The Yen was unchanged versus the Dollar and the Euro as risk appetite remained high but economic data wasn't able to push the Yen lower. Overall USD/JPY traded with a low of 94.36 and with a high of 95.45 and EUR/JPY traded with a low of 135.97 and a high of 137.7. No economic data expected today.
Canadian Dollar (CAD)
The Canadian Dollar weakened versus the Dollar after Canada's Finance Minister, Jim Flaherty, said he is concerned from the steep gains of the Canadian Dollar and there are steps that could be taken to slow its appreciation. Overall, USD/CAD traded with a low of 1.0630 and with a high of 1.0765. No economic data expected today.
USD/CAD - Last: 1.0715