The US dollar is recovering, aided by increasing risk aversion during Thursday’s US market session. The Loonie pair’s reversal from Wednesday’s high at 1.2750 has been restricted at 1.2630 before bouncing up to prices past 1.2700.
The US Dollar has been gaining versus its main currency rivals amid a bitterer sentiment, in a choppy trading session at month and quarter-end.
Macroeconomic data has been mixed in the US. New claims for unemployment payments increased for the third consecutive time, with 362,000 new applicants in the week of September 25, denting demand for the US Dollar. On the other hand, the US economy grew at a 6.7% pace in the second quarter, a tick up from the 6.6% increment previously estimated.
Looking forward for today, a bunch of releases with the most important the monthly Canadian GDP with the US monthly Core PCE (Personal Consumption Expenditures) Price Index and later on the US ISM Manufacturing PMI and the US Revised UoM Consumer Sentiment.
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