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North Korea utters threat towards President Trump following his Asia tour

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The greenback was for the most part a victim of bullying in yesterday’s trading against a basket of major currencies. In other news, the President denounced North Korea’s dictatorship in a speech that he gave in Seoul, South Korea. Furthermore, to make matters worse, Trump then took to Twitter to exchange jabs with North Korean leader, Kim Jung-un, which earned him a sentenced to death threat from a North Korean state newspaper. In today’s trading, markets will be keeping an eye on commodity prices as the U.S. reports inflation, retail sales, and crude oil inventory data. Looking forward, tomorrow the U.S. will report jobless claims.

Canadian Dollar Comment:

The loonie weakened by 0.25% to the dollar in yesterday’s trading session following a decline in the price of oil. The black commodity slumped as it moved lower by a full $1 to hit $55.50/bbl by end of day. The decline was mainly due to the International Energy Agency (IEA) revising its global oil demand growth to the downside. In today’s trading, markets will be observing the existing home sales data to see if the real estate boom has been continuing in a rising interest rate environment. Looking forward, tomorrow there will be no pertinent economic reporting in the Canadian region.

Euro Comment:

The single-currency jumped 0.40% against the dollar in yesterday’s trading as positive economic reporting carried the weight. The rally in the euro is good enough to mark near a 2-week high against its American peer. The stronger euro over the last week has also helped to push European stocks lower as investors look for cheaper alternatives. Looking forward, tomorrow the Eurozone will report inflation data.

Yen Comment:

The safe-haven currency gained a miniscule 0.10% against the dollar in yesterday’s trading session. Furthermore, Japan reported GDP data on an annualized basis set for the 3rd quarter that came in at 1.4% which was just below the 1.5% expectation on the street. In today’s trading, participants will have to wait until North American markets close to observe the Japanese housing loans data which should give insight into the demand for housing. Looking forward, tomorrow there will be no pertinent economic reporting from Japan.

Pound Comment:

The sterling joined a few of its peers as it too rallied by 0.45% against the dollar in yesterday’s trading. Furthermore, the U.K. reported on an annualized basis set for October that came in at 3% which was just shy of the 3.1% expectation but matched the previous reporting figure. To go further, the U.K. also reported its employment change and unemployment rate for September which came in at -14k and 4.3% respectively. The employment change was a significant miss on expectations while the unemployment rate remained on target. Looking forward, tomorrow the U.K. will report retail sales data.

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Sources:

www.investing.com
www.scotiafx.com
www.dailyfx.com
www.theglobeandmail.com/globe-investor/markets/

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  2016
Currency Spot Q1 Q2 Q3 Q4
EUR/USD 1.0857 1.11 1.10 1.13 1.14
USD/JPY 113.9400 112 113 115 118
GBP/USD 1.3960 1.41 1.43 1.47 1.51
USD/CHF .9992 0.99 1.00 0.99 0.98
USD/CAD 1.3412 1.37 1.38 1.42 1.41
USD/MXN 17.8609 17.75 17.22 16.71 16.45
AUD/USD .7241 0.70 0.69 0.71 0.72
USD/CNH 6.5518 6.60 6.70 6.75 6.80
USD/PLN 3.9859 4.33 4.35 4.37 4.33
USD/INR 67.7124 68.0 68.5 66.0 65.0

  2017
Currency Spot Q1 Q2 Q3 Q4
EUR/USD 1.0857 1.11 1.10 1.13 1.14
USD/JPY 113.9400 112 113 115 118
GBP/USD 1.3960 1.41 1.43 1.47 1.51
USD/CHF .9992 0.99 1.00 0.99 0.98
USD/CAD 1.3412 1.37 1.38 1.42 1.41
USD/MXN 17.8609 17.75 17.22 16.71 16.45
AUD/USD .7241 0.70 0.69 0.71 0.72
USD/CNH 6.5518 6.60 6.70 6.75 6.80
USD/PLN 3.9859 4.33 4.35 4.37 4.33
USD/INR 67.7124 68.0 68.5 66.0 65.0
  2016 2017
Currency Spot Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
EUR/USD 1.0857 1.11 1.10 1.13 1.14 1.15 1.15 1.16 1.18
USD/JPY 113.9400 112 113 115 118 119 120 118 116
GBP/USD 1.3960 1.41 1.43 1.47 1.51 1.53 1.54 1.55 1.58
USD/CHF .9992 0.99 1.00 0.99 0.98 0.98 0.98 0.97 0.97
USD/CAD 1.3412 1.37 1.38 1.42 1.41 1.38 1.36 1.35 1.33
USD/MXN 17.8609 17.75 17.22 16.71 16.45 16.21 15.97 15.82 15.75
AUD/USD .7241 0.70 0.69 0.71 0.72 0.73 0.74 0.76 0.79
USD/CNH 6.5518 6.60 6.70 6.75 6.80 6.80 6.70 6.65 6.60
USD/PLN 3.9859 4.33 4.35 4.37 4.33 4.30 4.30 4.30 4.10
USD/INR 67.7124 68.0 68.5 66.0 65.0 64.5 64.0 63.5 63.0

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