US Futures Extend Gains, Dollar Retreats on Strong Risk-on Sentiment
US dollar and cable slip; Euro, loonie and aussie storm higher
The dollar is edging lower for a second consecutive day, pressured by the positive risk tone in the markets. However, attention is now shifting to the CPI reading on Friday, where a stronger-than-expected inflation figure might lock in the acceleration of the Fed’s tapering program, underpinning the greenback’s prospects.
The euro is marching higher today without any major headlines supporting its move, mainly benefiting from most major currencies’ setbacks. The Australian dollar is also appreciating as commodity prices climb.
The Canadian dollar is trading higher ahead of the BoC monetary policy decision later today, capitalizing on the recent solid Canadian data, surging oil prices and soaring risk appetite. Markets anticipate that the BoC will leave rates unchanged at 0.25%, but the meeting will be closely eyed on whether the BoC officials will…
