Pound (GBP) rises despite dovish BoE comments
The pound (GBP) rose against its weaker rivals on Friday, with GBP brushing off comments from Bank of England (BoE) policymaker Swati Dhingra.
In an interview with Bloomberg, Dhingra advocated cutting interest rates further. However, as she is known to be in favour of further cuts, her comments failed to dent the pound.
Looking ahead, a speech from BoE Deputy Governor Dave Ramsden could impact GBP today. Any dovish comments could hurt the pound.
Euro (EUR) dented by downbeat German data
The euro (EUR) struggled against its stronger peers on Friday following an unexpected contraction in German industrial production in October.
However, EUR was able to gain against some of its weaker counterparts.
Eurozone data is in short supply today, potentially leaving EUR muted ahead of the European Central Bank (ECB) decision later in the week.
US dollar (USD) firms following payrolls print
The US dollar (USD) strengthened on Friday, despite some initial volatility, in response to the latest US labour market data.
Although the unemployment rate rose, as expected, a stronger-than-forecast non-farm payrolls print helped to lift USD.
Risk appetite may be the primary influence for the US dollar today amid a lack of American economic data.
Canadian dollar (CAD) plunges as unemployment jumps
The Canadian dollar (CAD) slumped on Friday after Canada’s unemployment rate leapt from 6.5% to 6.8% in November.
Canadian data is also thin on the ground today, potentially leaving the crude-linked Canadian dollar at the mercy of oil price dynamics.
Australian dollar (AUD) buoyed by rising commodity prices
After a mixed session overnight, the Australian dollar (AUD) then climbed as today’s European session started, thanks to a rise in commodity prices.
New Zealand dollar (NZD) choppy amid mixed risk appetite
The New Zealand dollar (NZD) was volatile as this week began amid an uncertain market mood.
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