The U.S. dollar was seen weakening on Friday after the U.S. President Trump commented about the currency’s strength. Trump said that China and the EU, among other countries were manipulating their currencies and interest rates lower. In contrast he said that the U.S. was hiking interest rates while the dollar gets stronger with each passing day.
Earlier last week, Trump also expressed his views about the Federal Reserve noting that the central bank should stop tightening monetary policy.
Economic data from Friday revealed that Canada’s inflation rate advanced 1.4%, beating estimates of a 0.6% increase.
Looking ahead, the economic data for the day is relatively quiet. The U.S. existing home sales report is due today with forecasts showing an increase of 5.46 million. In the Eurozone, the consumer confidence report is expected to remain unchanged at -1.