MARKET OVERVIEW AT LONDON CLOSE
Immediately following the release, US dollar pairs have extended gains against the majority of its major counterparts.
The preliminary release of the Michigan Consumer Sentiment has posted 83.9, down from its previous level of 84.1, missing market expectations of 85.
The University of Michigan Consumer Sentiment Index rates the relative level of current and future economic conditions.
Also released is the Michigan Inflation Expectation has posted 3.3%, up from its previous level of 3.0%.
University of Michigan (UoM) Inflation Expectations measures the percentage that consumers expect the price of goods and services to change during the next 12 months.
Friday’s release of the ECRI Weekly Leading Index has posted 4.6%, down from its previous level of 5.2%.
Weekly Leading Index is the measure of future Economic growth which is annualised growth rate
USDJPY 99.17 -0.33%, AUDUSD 0.9060 +0.30%, USDCHF 0.9476 -0.27%, GBPUSD 1.5111 +0.18%, NZDUSD 0.7792 +0.14%, EURUSD 1.3043 +0.11% and USDCAD 1.0393 +0.10%.
The Mexican peso has lost ground against the majority of its major counterparts following the release of Mexico’s overnight interest rate being held at 4%, in-line with market expectations.
Mexican Industrial Production has posted 0.5%, in-line with market expectations, down from its previous level of 3.3% year-on-year.
Industrial Production measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
The Polish zloty is trading lower against the majority of its major counterparts following the release of its current account and money supply.
Poland’s current account posted EUR547, outperforming market expectations of EUR-193, lower from its previous level of EUR714. Polish M3 money supply posted 7.1% month-on-month, outperforming market expectations of 6.7%, up from its previous level of 6.5%.
The USD/PLN is currently trading at 3.3063, up 0.28% on the day.
Key economic data releases
18:00 USD FOMC Member Bullard Speaks
20:00 ARS Argentinian CPI (MoM) 0.7% 0.7%
Biggest market gainers at the London close
AUDCAD 0.9415 +0.38%, GBPCAD 1.5706 +0.27%, AUDUSD 0.9055 +0.24%, EURCAD 1.3559 +0.22%, NZDCAD 0.8096 +0.21% and AUDNZD 1.1626 +0.16%.
Biggest market loser at the London close;
CADCHF 0.9109 -0.44%, USDCHF 0.9473 -0.31%, CADJPY 95.56 -0.26%, NZDCHF 0.7376 -0.24% and EURCHF 1.2355 -0.21%.
Story provided by StockMarketWire.com