Pound (GBP) unsure amid lack of data
The pound (GBP) traded without a clear trajectory on Friday as a lack of UK data left the currency rudderless.
While Sterling managed to rise against its weaker peers, it struggled elsewhere amid a lack of support.
Looking ahead to today, two Bank of England (BoE) policymakers are due to speak. Any hawkish comments could underpin the pound.
Euro (EUR) falls as French bond yields rise
The euro (EUR) weakened on Friday as French bond yields began creeping higher once again, reigniting fears about a possible debt crisis that could spill out across the Eurozone.
Meanwhile, a lack of economic data left the single currency unsupported.
European Central Bank (ECB) policymaker Boris Vujčić is set to deliver a speech today. As one of the ECB’s more hawkish policymakers, his comments may lend the common currency support.
US dollar (USD) recovers despite downbeat data
The US dollar (USD) initially softened on Friday as an improving mood dented the safe-haven currency.
However, USD was able to regain ground as the session progressed, despite a larger-than-forecast decline in US consumer sentiment in October.
With US economic data thin on the ground at the start of the week, risk appetite could drive the US dollar. Markets will be keeping a close eye on oil prices and events in the Middle East.
Canadian dollar (CAD) plunges following dire jobs data
The Canadian dollar (CAD) slumped at the end of last week after new data reported a worrying rise in unemployment in September.
Oil prices could drive the crude-linked Canadian dollar today, potentially leading to volatility in CAD if crude prices waver.
Australian dollar (AUD) softens amid cautious mood
The Australian dollar (AUD) drifted slightly lower during Monday’s Asian session, with a cautious mood seeing the currency trim some of last week’s gains.
New Zealand dollar (NZD) dips as risk sentiment softens
The New Zealand dollar (NZD) also trended broadly lower overnight as risk appetite faded.
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