Dollar Retraces Friday’s Gains as Market Holiday Overrides Risk Sentiment
• Euro Suffers from Lax Inflation, Confidence Figures and Discord Over Expansionary Policy
• Canadian Dollar Starts its Rally with GDP, Looks to Extend the Move with a BoC Rate Hike
• Australian Dollar Traders are Already Pricing in an RBA Pass but Could it Still Hurt the Currency?
• British Pound Traders More Concerned with Government Stability than Mixed Economic Data
• Japanese Yen Adds Political Uncertainty to Fiscal and Deflationary Troubles
Japanese Yen Sinks on Political Turmoil, Weak Economic Data
The Japanese Yen tumbled against all of its major counterparts, undermined by rising political uncertainty and a lackluster set of economic data centered around disappointing industrial production figures.
Crude Oil Fluctuates, Eventful Week Ahead
Crude oil prices are near $74.00 as the commodity digests last week’s impressive gains. After the holiday, look for renewed volatility on the back of important economic reports out of the U.S.