Markets continued to trade in a risk-on mode yesterday, helped by news that the US and China are willing to return to the negotiating table and discuss trade. As for today, CAD traders are likely to lock their gaze on Canada’s CPIs for July.
Sentiment Remains Positive Amid Renewed US-China Talks
The dollar traded higher or unchanged against all but one of the other G10 currencies. It gained against NOK, CHF, CAD and SEK and JPY in that order, while it remained virtually unchanged against EUR, GBP and AUD. The sole gainer was NZD.
Although the greenback gained against some of its peers and underperformed only against NZD, the pattern suggests that following the news during the Asian morning Thursday that the US and China are willing to resume trade talks, market sentiment remained...
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