US Dollar Mixed as Equities Rise; Euro and Yen Soften on Growth Concerns
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The US dollar is mixed today, with dollar-bloc currencies firmer and the euro and yen softer. Equities are up across the board.
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Australia reports weak Q3 GDP growth of 0.2%. The eurozone sees a slight increase in retail sales but a decline in factory orders.
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The euro is lower for the sixth straight session after last week's soft inflation data. The Swiss franc is also weaker.
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ADP private payrolls and trade balance data are due from the US later today. Canada reports trade and productivity ahead of the Bank of Canada meeting.
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Markets don't expect the Bank of Canada to change rates today but are pricing in rate cuts in 2024. The US dollar stalled near CAD1.36.