USD enjoying improved support US equity enjoyed a fourth consecutive day in the positive as investors enjoyed some above-estimate corporate reports. Asia took most of the positive lead this morning as well with most of the major indices aiming higher as well. US reported some better than expected Existing Home Sales figures for September as well. Today the most interesting data on the economic docket includes US inflation figures for September, and the Bank of Canada’s rate decision announcement later in the afternoon. Even the BoE will attract attention as it releases the minutes of the monetary policy meeting. The USD recovered ground late in yesterday’s session we saw the EURUSD touch lows of 1.2713, and the GBPUSD saw session lows of 1.6106 – this morning we’re seeing support for the USD pick up as well and we have already challenged yesterday’s lows. The CAD is flat ahead of the rate decision later this afternoon where the Canadian Central Bank is expected to leave rates on hold at 1%. The British Pound was only marginally in the negative ahead of the BoE’s minutes, that investors will be following to get more clues on the timing of the first rate hike since 2007. On the Bloomberg Correlated Weighted Index (BCWI) the GBP has now dropped to second place when it comes to yearly gains as the USD takes the lead, enjoying the greatest support amongst the major currencies. Good day
Posted on: Wed, 22 Oct 2014 08:25:23 +0000
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