Pound (GBP) steady following Chancellor's growth speech
The pound (GBP) was stable at the start of this week after John Healey delivered his first major speech as UK Chancellor.
Healey struck an optimistic tone as he outlined the government's plans to boost growth, but also refused to rule out the need for more tax hikes in his upcoming budget.
With UK economic data in short supply, Sterling may be left at the mercy of wider market trends today.
Euro (EUR) muted as German industrial production contracts
The euro (EUR) struggled to attract support on Monday, following the release of Germany's latest industrial production figures.
July's data reported a shock slump in factory output, which was enough to offset upwardly revised Eurozone GDP figures.
Meanwhile, the euro is attracting modest support this morning after Germany recorded its largest trade surplus in two years.
US dollar (USD) stalls amid thin trading conditions
The US dollar (USD) traded without strong directional bias at the start of this week amid thin trading conditions in the US currency.
US markets were closed for the extended Labor Day weekend on Monday, limiting liquidity in the ‘greenback’.
Turning to today's session, the US dollar is likely to catch bids as ongoing geopolitical uncertainty boosts safe-haven demand.
Canadian dollar (CAD) firms as oil prices rise
The commodity-linked Canadian dollar (CAD) trended broadly higher on Monday, as global oil prices pushed back above $97 per barrel.
Expect the 'loonie' to maintain a positive trajectory today as crude prices continue to push higher.
Australian dollar (AUD) dented by slump in confidence data
The Australian dollar (AUD) ticked lower overnight on Monday as Australia's latest consumer and business confidence indexes both reported a deterioration in morale.
New Zealand dollar (NZD) retreats in risk-off trade
The New Zealand dollar (NZD) stumbled in overnight trade as a cautious mood sapped the appeal of the risk-sensitive 'kiwi'.
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