The US dollar is mixed after Facebook surprised markets with a shock drop in profits brought about by privacy costs. The AUD/USD is rising after hefty selling yesterday. The EUR/USD is making similar moves after dropping below 1.1650 yesterday following the ECB press conference.
By contrast, the pound is displaying follow-on weakness as the ECB looks set to throw cold water over Theresa May’s Brexit plans. The EUR/GBP closed lower in volatile trading yesterday, while the euro has the upper hand this morning.
The US dollar is weaker against the Canadian dollar, while the USD/CHF makes follow on gains.
Yen pairs are on the back foot, with most making follow-on selling. The EUR/JPY has now slipped below 129.50, while the GBP/JPY is testing 145.50. The USD/JPY is extending its mid-July slump.
Today, we have US advance GDP at 13.30, alongside the advance GDP price index.
At 15.00, we have revised UoM consumer sentiment.
The GBP/JPY is weaker as the yen takes control and the pound suffers Brexit blues. Further downside is on the cards.