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USD Continues to Shine, Bank of Canada Decides on Policy

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The greenback continued to gain against most of its major peers yesterday, as better-than-expected US data may have eased further concerns with regards to the health of the world’s largest economy. The Aussie was among the main losers, tumbling after Australia’s GDP disappointed. The pound slid as well following headlines that no Brexit breakthrough is on the horizon, while SEK surged on comments that Riksbank’s plan remains for higher rates later this year. As for today, the BoC decides on interest rates, with investors eager to find out whether the latest softness in economic data will prompt policymakers to alter their interest-rate guidance.

USD Keeps Gaining, AUD Slides after GDP, GBP Stays Brexit-Driven

The dollar continued gaining against most of the other G10 currencies yesterday, with the DXY recording its 5th positive session in a row. The greenback gained the most versus CHF, AUD, and NZD in that order, while it underperformed only against SEK and JPY.

The driver may have been the positive surprise in the ISM non-manufacturing index for February, and the better-than-expected new home sales for December. Specifically, the ISM index rose 3 points, to...

Read the full financial markets daily report on JFD Research.

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Source: https://www.jfdbrokers.com/en/research/usd-continues-to-shine-bank-of-canada-decides-on-policy
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