US Dollar Mixed Against Trading Pairs in FX Markets
The US dollar was mixed against its major trading partners early Monday — up versus the pound and Canadian dollar, down versus the euro and yen — with markets focused on March inflation data scheduled to be released later in the week.
There was no clear catalyst in data or market events, and the USD rebound seems to be more related to the unwinding of short positions. A quick summary of foreign exchange activity showed that USDEUR rose to 1.0961 from 1.0950 at the Friday US close but was below a level of 1.1051 at the same time Friday morning.
Eurozone investor confidence declined sharply in April while Eurozone retail sales rose less than expected in February, but the year-over-year growth rate accelerated, according to data released earlier Monday. The next European Central Bank meeting is scheduled for April 16-17.
GBPUSD fell to 1.2814 from 1.2873 at the Friday US close and 1.3002 at the same time Friday morning. UK home prices fell in March, holding the year-over-year rate in line with the previous month, according to data released overnight. The next Bank of England meeting is scheduled for May 8.
USDJPY fell to 146.2041 from 146.9482 at the Friday US close but was above a level of 144.7211 at the same time Friday morning. Japanese wage income growth accelerated in February while the Japanese leading index declined in the same month, according to data released overnight.
The next Bank of Japan meeting is scheduled for April 30-May 1. USDCAD rose to 1.4247 from 1.4235 at the Friday US close and 1.4194 at the same time Friday morning. The Canadian leading index rose only slightly in March, according to data released earlier on Monday.
The next Bank of Canada meeting is scheduled for April 16. #US Dollar Mixed Against Trading Pairs in FX Markets NGX Gains Weight as Investors Wealth Rises by N120bn
