This morning, the Australian dollar is leading markets higher after better than expected Chinese industrial production data. Both the AUD/ USD and AUD/ JPY are rising after yesterday’s volatile session.
The dollar pairs are generally mixed, with the dollar index negative amid US political uncertainty. The EUR/USD and GBP/USD are on the back foot slightly.
The EUR/GBP is on the rise after another session in favour of the pound yesterday.
Most yen pairs are subdued with the exception of the AUD/JPY as the USD/JPY remains flat.
The USD/CHF is making small gains after two days of losses.
Meanwhile, the USD/CAD is unchanged after large gains yesterday which coincided with a slump in oil prices.
ECB President Draghi speaks at 08.00
At 12.30, we have US core retail sales and PPI.
Crude oil inventories are at 14.30.
New Zealand GDP is at 21.45.
The USD/JPY has at least stopped dropping like a stone of late, but the medium term trend still remains uncertain, making lower trades look attractive.