This morning, the US dollar is unchanged ahead of tomorrow’s Fed as investors take in yesterday’s recovery rally.
The biggest gains continue to come against the yen as the USD/JPY gains with the risk-on mode continuing. The EUR/JPY is making outsized gains, while the GBP/JPY is up again after yesterday’s reversal.
The Australian dollar was mixed yesterday following the latest RBA meeting, with the AUD/JPY unchanged and the AUD/USD dropping.
The GBP/USD also reversed yesterday, with the EUR/GBP rallying for the first time in six sessions.
Coming up today, we have UK retail sales at 09.30.
Following this, we get US building permits and export prices at 13.30.
Also at 13.30 we get Canadian manufacturing sales.
US President Trump speaks at 15.30
Gold has come off the boil recently as North Korean tensions ease. At the same time, the US dollar has rebounded, putting pressure on the precious metal.