This morning, the euro is continuing to under-perform the pound and losing ground against the US dollar. This comes despite positive signs of stability in the region with pro-independence parties expected to lose their majority in the coming elections.
The Australian dollar is lower today, with the AUD/JPY dropping for the fifth day in a row as Chinese manufacturing falls below expectations.
The NZD/USD is also slipping lower after performing well yesterday.
The USD/JPY is higher after heavy selling yesterday which was mirrored across most yen pairs. The BOJ opted for no change this morning as expected.
The dollar index is slightly higher after yesterday’s reversal.
Coming up today, we have European CPI flash estimate, released alongside preliminary flash GDP.
At 12.30, we get Canadian GDP and RMPI. US Employment cost index is also released at this time.
At 13.45, we get Chicago PMI.
US CB Consumer confidence is released at 14.00.
BOC Governor Poloz speaks at 19.30.
At 21.45 this evening, we get New Zealand employment change and unemployment data.
There are positive signs in Europe, but there will be some time until regional elections and if recent years have taught us anything, it’s to prepare for the unexpected.