Yen Looks to Fall, Euro Stays Unaffected

The Canadian Wholesale prices are up by 0.7% versus the expected forecast of 0.4%.

Also, the Euro zone consumer confidence index fell from -5 to -6. The Reserve Bank of Australia’s monetary policy meeting stated that there was no change in interest rates and they continued to remain at 1.5%. The bank members promised a global growth leading to an increase in inflation and commodity prices.

The board members did not intend to change the monetary policy in the near future in order to establish sustainable growth in the economy. We can look out for the All Industry Activity Index for Yen at a negative rate of 0.2% when compared with the previous month rate of 0.3% paving the way for Yen’s decline. The EURO Markit PMI Composite from France, Germany contains few major updates which must be noted. These updates do not have an impact in the value of the Euro.

The pound data for the Public Sector Net Borrowing shows a deficit with -14B when compared with the previous month rate of -6.421B. The pound dollar is going to stay low until there are further updates from Bank of England’s Governor Mark Carney. There are no major updates with respect to the US Dollar and hence we end the day with the Federal Open Market Committee’s Member Harker’s speech.

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