Decrease of British Pound Goes On

Market Reviews

The British pound remains the weakest major currency for the week. Political uncertainty about Brexit is the main factor of the currency decline. The US dollar remains stable. The Japanese yen is gaining momentum for a more sustainable recovery, as traders begin to exercise caution. Volatility on the Japanese financial markets will intensify as parliamentary elections approach. The Australian dollar is trading lower today after disappointing retail sales, which declined by 0.6% in August.

Initial jobless claims in the US fell by 12 thousand to 260 thousand for the week ending September 30. Trade deficit in the US narrowed by 2.7% to USD -42.4B in August. Economists predicted a deficit of USD -42.7B.

The Eurozone Retail PMI rose to 52.3 in September. The Swiss consumer price index rose by 0.7% yoy in September.