US Dollar made it to 2-wk highs shrugging off concerns of a possible US shutdown and instead choosing to be optimistic on the progress being made on the tax bill. US Dollar index (DXY) is currently at 93.58 just off yesterday’s highest-for-the-week of 93.65.
The Bank of Canada kept its policy rates unchanged yesterday at 1% and they sounded dovish enough to convey that chances of rate hike next year may not be on the cards. CAD is losing across the board. USDCAD is making fresh highs and is currently testing highs made on Wednesday.
As a preliminary gauge of sentiment, a look at the performance of major Asian indices shows rather a mixed picture. Some notewirthy gains were seen in the Japanese Nikkei after the previosu day’s drop but other than that gains were very unimpressive. The Shangai and the KOSPI were in loss.
Today ECB chief is expected to hold a conference in Frankfurt and we have EZ GDP for the 3rd quarter and US weekly jobless claims.
