Wednesday was another day marked by risk-off trading and the reason was once again fears of escalating US-China tensions and concerns over global economic growth. We also had a BoC rate decision. The Bank kept interest rates unchanged, but the statement may have not been as upbeat as some may have expected, and thus, the Loonie slid. As for today, we have the second estimate of the US GDP for Q1, while during the Asian day Friday, China releases its PMIs for May.
Equities and Bond Yields Continue to Slide
The dollar continued trading higher against most of the other G10 currencies on Wednesday and during the Asian morning Thursday. It underperformed only against SEK, while it traded virtually unchanged versus AUD.
Once again, the performance in the FX sphere does not paint a clear picture with regards to the broader market sentiment. However, the equity world suggests that...
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