Australian dollar (AUD) wavers amid lull in data
The risk-sensitive Australian dollar (AUD) initially rose on Thursday morning amid improving market sentiment.
However, fluctuating commodity prices and a shifting market mood then infused some volatility into the ‘Aussie’ later in the session.
Looking ahead, Australia’s latest retail data is due for release this morning. Could signs of slowing consumer spending sour AUD sentiment today?
New Zealand dollar (NZD) bolstered by rising morale
The New Zealand dollar (NZD) trended broadly higher through Thursday’s session as the latest ANZ business confidence index smashed forecasts.
Coming up, could a softening of consumer confidence in New Zealand weigh on the ‘kiwi’ this morning?
Pound (GBP) retreats amid profit-taking
The pound (GBP) struggled to attract investor support on Thursday amid a lack of fresh UK data.
Amid an absence of data, some light profit-taking and an unclear market mood sapped appeal for the increasingly risk-sensitive currency.
Turning to today, the ongoing lull in UK releases could see GBP move without a clear trajectory as the week draws to a close.
Euro (EUR) sinks amid cooling German inflation
The euro (EUR) tumbled on Thursday night as a weaker-than-forecast batch of German inflation data fuelled expectations of a European Central Bank (ECB) rate cut next month.
Additionally, ECB Governor Philip Lane expressed confidence in decelerating price pressures, stoking speculation of additional rate cuts this year.
This evening, the Eurozone’s latest inflation data is due for release. Additional evidence of easing price pressures in the euro area could see a surge in rate cut bets, and pressure the euro.
US dollar (USD) rallies on robust economic growth
The US dollar (USD) surged on Thursday night as the latest American GDP release reported stronger-than-forecast economic growth in the second quarter.
Additionally, a lower-than-expected initial jobless claims report softened concerns of a deteriorating US labour market, further lifting USD sentiment.
Tonight, the latest core PCE price index is due for release in the US. As the Federal Reserve’s preferred gauge of inflation, could an expected rise provide another boost for the US dollar?
Canadian dollar (CAD) strengthens as oil prices rebound
The crude-linked Canadian dollar (CAD) rebounded on Thursday as rising oil prices and hotter-than-forecast Canadian wage growth underpinned CAD.
This evening, Canada’s latest GDP data is due for release. Could an acceleration of growth in the second quarter help the ‘loonie’ to extend these gains?
Data releases
30th Aug 08:00 NZD ANZ Roy Morgan Consumer Confidence (Aug) 88.5
30th Aug 11:30 AUD Retail Sales (Jul) 0.3%
30th Aug 16:00 EUR German Retail Sales (May) 0.1%
30th Aug 19:00 EUR Inflation Rate (Aug) 2.2%
30th Aug 19:00 EUR Unemployment Rate (Jul) 6.5%
30th Aug 22:30 Core PCE Price Index (Jul) 2.7%
30th Aug 22:30 CAD Growth Rate (Q2) 0.5%