FX Highlights

  • The USD Index falls, longest losing streak since March following reports showing strong China factory output, this run could well continue through 2010
  • GDP heads for its second weekly advance against the greenback after UK producer prices increased for a sixth month in August
  • The EUR traded higher again, up 0.2% overnight and up a full 2.0% on the week, USD selling gathers momentum
  • The JPY stands out as a significant gainer overnight fueled by upbeat Chinese data, even in the face of improved risk appetite and stronger equities
  • The AUD vs. USD continues to hold ground at higher levels as gold futures come in $5/ounce better this morning, spot gold has once again breeched the $1000 mark
  • USD/CAD retreats from mid week highs of 1.0879, trading near support at 1.0750 this morning, crude oil comes in at marginally lower at 71.76/brl basis NY futures
  • US equity markets set to open flat to slightly better

Upcoming Events

  • US- USD Import Price Index, Wholesale Inventories, University of Michigan Confidence and Monthly Budget Statement released today
  • CAN- New Housing Price Index for August