Canada will release the employment change and the unemployment rate on October 9, at 15:30 MT time.
Common currency is suppressed by German surge fears
Information is not investment advice
On Thursday, the common currency nursed losses versus the evergreen buck having slumped to a 22-month minimum on a shocking dive in a leading gauge of economic activity in Germany, boosting fears a deceleration in the EU’s number one economy.
In April, German business morale decreased, bucking hopes for a minor improvement due to the fact trade tensions put pressure on the German economy, thus leaving domestic demand to underpin decelerating surge.
The evergreen buck went up to a 23-month peak of 98.189 versus a group of major counterparts overnight having surged over 0.5%, mostly backed by the euro's weakness. By the way, the index last traded a bit lower, demonstrating a reading of 98.096.
In fact, yesterday's strength of the evergreen buck was quite exaggerated by the weakness in other countries, except America, as some analysts explained.
The common currency hit $1.1153, having faced its greatest one-day dive versus the evergreen buck since early March when the ECB pushed back its plans for the first post-crisis interest rate lift.
Besides this, the euro also decreased by about 0.4% versus the Japanese yen overnight, hitting 125.125.
The Japanese yen headed south to a 2019 minimum of 112.40 yen per greenback for the last session, with investors eyeing a BOJ policy decision later on Thursday for trading prompts.
The BOJ is anticipated to keep monetary policy on hold on Thursday and forecast that inflation is going to fall short of its 2% objective for three more years, indicating that its huge stimulus will persist for the near future.
The evergreen buck dived a bit versus the Japanese yen, hitting 112.12 yen.
As for the Australian dollar, it stood still, sticking with $0.7017.
The Reserve Bank of Australia will post a rate statement, which contains an update on the interest rate on October 6, at 6:30 MT time.
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
Three main drivers of the market: the stimulus package, the US presidential election and the coronavirus. Let's look how market reacts.
EU Flash Manufacturing & Services PMI will come out on Friday at 11:00 MT time!
The USA will publish unemployment claims on October 22 at 15:30 MT time. How to trade after the release?