USD 
EUR 
JPY 
AUD
It's been a wild ride for the Aussie lately, but today it took a bit of a breather, trading lower around 0.7040. Which was pretty wild, considering the supportive domestic factors in Australia. But you'd have noticed that the return of safe-haven demand put some pressure on the pair. If you were watching AUD/USD, you'd have seen it pull back from the session highs of about 0.7108 to trade at about 0.7074. And honestly, it wasn't a huge surprise, given the modest rebound in the US Dollar.
But what's really interesting is how the Canadian Retail Sales data played out. It was softer than expected, which weighed on the Canadian Dollar, and the US Dollar rebound provided some additional support. According to FXStreet, USD/CAD recovered from intraday lows on Friday, which is a pretty big deal. And if you were watching the news, you'd have seen that the Dow Jones Industrial Average tumbled around 257 points, or 0.6%, on Friday. The S&P 500 fell 0.8%, while the Nasdaq composite also took a hit. FXStreet pointed out that EUR/USD trades with a mild downside bias on Friday, which is worth keeping an eye on.
And it's not just the US markets that are making waves. The Aussie is still trading within a pretty tight range, and the New Zealand Dollar is holding steady against the US Dollar, closing at 0.5841. The US Dollar is also steady against the Yuan Renminbi, closing at 6.8852, and the Mexican Peso is holding at 17.8860. But what's really on everyone's mind is what's coming next. Will the Aussie continue to take a breather, or will it make a comeback? And what about the US Dollar - will it keep rebounding, or will it take a hit?
It's going to be an interesting week, that's for sure. The economic events are going to keep on coming, and we've got to stay on our toes. The Retail Sales Ex Autos data is going to be worth watching, and the Producer Price Index could provide some insight into what's going on in the markets. But for now, it's all about the Aussie, and whether it can regain its momentum. If you were trading AUD/JPY, you'd have seen it close at 112.0087, which is a pretty interesting level. We'll just have to wait and see what happens next.
Central Banks Weigh In
But what's really interesting is how the Canadian Retail Sales data played out. It was softer than expected, which weighed on the Canadian Dollar, and the US Dollar rebound provided some additional support. According to FXStreet, USD/CAD recovered from intraday lows on Friday, which is a pretty big deal. And if you were watching the news, you'd have seen that the Dow Jones Industrial Average tumbled around 257 points, or 0.6%, on Friday. The S&P 500 fell 0.8%, while the Nasdaq composite also took a hit. FXStreet pointed out that EUR/USD trades with a mild downside bias on Friday, which is worth keeping an eye on.
And it's not just the US markets that are making waves. The Aussie is still trading within a pretty tight range, and the New Zealand Dollar is holding steady against the US Dollar, closing at 0.5841. The US Dollar is also steady against the Yuan Renminbi, closing at 6.8852, and the Mexican Peso is holding at 17.8860. But what's really on everyone's mind is what's coming next. Will the Aussie continue to take a breather, or will it make a comeback? And what about the US Dollar - will it keep rebounding, or will it take a hit?
It's going to be an interesting week, that's for sure. The economic events are going to keep on coming, and we've got to stay on our toes. The Retail Sales Ex Autos data is going to be worth watching, and the Producer Price Index could provide some insight into what's going on in the markets. But for now, it's all about the Aussie, and whether it can regain its momentum. If you were trading AUD/JPY, you'd have seen it close at 112.0087, which is a pretty interesting level. We'll just have to wait and see what happens next.