Macro Roundup (Jul 23)
CST
Source:SMM
The dollar drifted higher against a basket of currencies in choppy trading on Thursday while the euro fell as risk appetite dimmed once again with stocks volatile and investors buying US Treasuries.
SHANGHAI, Jul 23 (SMM) This is a roundup of global macroeconomic news last night and what is expected today.
The dollar drifted higher against a basket of currencies in choppy trading on Thursday while the euro fell as risk appetite dimmed once again with stocks volatile and investors buying US Treasuries.
Earlier in the session, the greenback slid in the wake of weaker-than-expected US jobless claims data that raised concerns about the world s largest economy s recovery from the pandemic.
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Erik Bregar, head of currency strategy at the Exchange Bank of Canada, said market sentiment has recovered, although trends for the rest of the week will be hard to predict. If there’s anything that could probably shake up things, it might be the European Central Bank meeting on Thursday, but unless they give us some sort of dovish surprise, I don’t see much directionality for the week, said Bregar in an interview. I wouldn’t be surprised if we’ve seen the big volatility for the week already and we’re kind of just meandering for the rest of it.
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