This morning, the US dollar is showing moderate gains after backing off yesterday. US data was on the positive side yesterday with ADP Payrolls and ISM Manufacturing coming in slightly above expectations.
Dollar pairs are on the back foot this morning after most made minor gains yesterday. The Australian dollar is seeing the steepest declines, down over 0.5% after retail sales dropped more than expected.
The British pound is lower again, marking five days of consecutive losses despite better than expected services PMI yesterday.
The yen pairs are mixed, with the USD/JPY unchanged and the AUD/JPY extending losses.
Today we have the release of the ECB monetary policy meeting accounts at 12.30.
Then at 13.30, we Canadian trade balance. At the same time, we get US unemployment claims and trade balance.
At 14.10, FOMC member Powell speaks, followed by Harker at 15.00.
US factory orders at 15.00.
The Australian dollar has resumed its downward trend this morning, with the July lows a potential target.