Moneycorp Market Updates
U.S. Dollar Edges Higher at North American Open
1 minute readMarket Overview
USDCAD is up 0.15%,
EUR/USD is down 0.15%
GBP/USD is down 0.25%
Economic Focus
The main event today will be the release of the May FOMC minutes at 2:00 p.m. ET. With most Federal Reserve officials aligned with a wait-and-see approach amid ongoing economic uncertainty, the minutes are expected to show broad consensus on monitoring further signals before making any changes to interest rate policy.
Earnings and Equities
After the market close today, Nvidia will report its earnings, which may significantly influence broader market sentiment. U.S. equity futures are opening slightly positive, buoyed by firmer U.S. data.
Currency Spotlight
GBP remains relatively firm despite a modest decline today. Some resilience in GBP has been noted amid concerns in the JGB and U.S. debt markets, leading to flows into UK gilts.
Canadian Focus
Canadian bank earnings continue to be generally positive. National Bank, in particular, reported a notable uptick. These earnings are supporting CAD in the face of broader USD strength.
Looking Ahead
Today’s focus remains on the FOMC minutes and Nvidia earnings. With data relatively light, markets are expected to respond to central bank tone and large-cap earnings for direction.
