The dollar index is slightly firmer again this morning, but the trend remains against the safe haven assets of the dollar and yen. Markets are recovering some confidence that there won’t be an all out trade war that destroys global trade.
The EUR/USD is unchanged after solid gains yesterday, recovering the majority of the mid August slump. The pound is gaining the upper hand, rebounding again this morning, but still well down for the month. The EUR/GBP has dipped for the last two days.
The AUD/USD is struggling this morning though after RBA assistant governor Debelle spoke.
The USD/CAD retains its bearish bias, while the USD/CHF dropped heavily yesterday, cementing three gains of heavy gains. The Swissy giving back this morning though.
The yen pairs are higher, led by the GBP/JPY which is up 0.20% today and 2.89% on the week. The AUD/JPY and EUR/JPY are following a similar trend.
Today, we have Canadian core retail sales at 13.30.
US existing home sales are at 15.00.
Crude oil inventories are at 15.30.
We have the FOMC meeting minutes at 19.00.
The Swiss franc is gaining ground like other pairs against the dollar, but with the added safe haven interest.