The U.S. Dollar was seen posting gains on Friday sending most of the currencies lower toward the close. Data from the Eurozone showed that flash manufacturing and services PMI came out mixed. Flash manufacturing PMI for September was seen to be weaker at 53.3 while services PMI was in line with expectations.
The British Pound fell on comments from PM May. Following a failed attempt to push for a favorable Brexit deal in Salzburg last week, Theresa May said that the UK and the EU were at an impasse on Brexit.
The NY trading session saw the release of the inflation data from Canada. Headline inflation dipped 0.1% as expected. The trimmed mean CPI was up 2.1% on the year. Core retail sales advanced 0.9% beating estimates of a 0.6% increase. Headline retail sales improved by 0.3% as expected.
The markets open to a quiet Monday. Economic data is sparse with Japan and China bank holidays. Most of the data is the second tier and is unlikely to impact the markets much.
The German Ifo business climate data will be coming out during the early European trading session. The recent downtick in the Eurozone’s consumer confidence could likely dent the sentiment in the German Ifo business climate as well.
Data from Canada will see the release of the wholesale sales report. No scheduled reports are coming out of the U.S. today.
