Another look at US GDP | FX ResearchThe US dollar is mildly bid into the North American session as it continues to generate interest from the Trump trade tension. We believe most of this is more negotiation tactic than anything else, though for the time being, the unpredictability is impacting the currency market. US equities have done a better job dealing with all of this, with equity futures pointing notably higher.
UK PM Starmer is in Washington today and is expected to attempt to secure support for Ukraine. The yen has been a standout loser on the day, with much of the selling attributed to reports showing long yen positioning as overextended. The Australian dollar has come under some pressure after another round of softer economic data.
Looking ahead, we get a second and more in-depth look at US GDP along with durable goods, initial jobless claims, and pending home sales. We also get Canada’s current account, Canada weekly earnings, ECB minutes, and a round of Fed speak.
