Pound (GBP) lifted by improving consumer confidence
The pound (GBP) accelerated against the majority of its peers yesterday amid signs that UK consumer confidence is on the rise.
Tempering these gains, however, was a rise in UK government borrowing costs as bond yields rebounded, following Wednesday's drop.
A contraction in UK retail sales last month sees the pound open today's session on the defensive, with Sterling at risk of more meaningful losses if the UK's upcoming PMI figures also disappoint.
Euro (EUR) undermined by energy price concerns
The euro (EUR) struggled to catch bids yesterday in the absence of any notable Eurozone economic indicators.
EUR sentiment was also suppressed by revived concerns over the impact of higher energy prices on Europe's industrial sector.
The Eurozone's own PMIs will be in the spotlight for EUR investors today, with the euro potentially firming if they report another robust expansion of the bloc's private sector.
US dollar (USD) slips as US debt tops $40tn
The US dollar (USD) remained on the defensive on Thursday, with USD exchange rates striking fresh multi-month lows.
USD investors appeared spooked by US debt concerns, after it was reported that US national debt has ballooned to $40tn for the first time on record.
Looking ahead, the US dollar may find some respite later today as the latest S&P PMIs are expected to point to continued resilience in the US private sector.
Canadian dollar (CAD) buoyed by rising oil prices
The Canadian dollar (CAD) trended broadly higher yesterday, supported by a continued rise in global oil prices.
Coming up, Canada's latest retail sales data could drag on the 'loonie' later today, as economists predict a sharp slump in sales growth last month.
Australian dollar (AUD) strengthens in risk-on trade
The Australian dollar (AUD) appreciated in overnight trade as continued weakness in the US dollar helped to bolster market risk appetite.
New Zealand dollar (NZD) enjoys bullish support
The New Zealand dollar (NZD) also rallied overnight, with the risk-on mood offsetting weak domestic trade data.
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