Greenback is turning in a mixed performance today as Forex traders process all the recent economic data from around the wold. There’s still a bit of strength for the US dollar from the recent payrolls report, but a bit of risk appetite is appearing on the better economic data out of China, and that is weakening the greenback a little bit.
Over the weekend, improving economic data in the United States prompted a rally in the US dollar. The improved data has many wondering if — maybe — the Federal Reserve would consider starting its taper in December, rather than waiting until early next year. This is dollar-positive, and the greenback is gaining against some of its counterparts as a result.
However, there is also some risk appetite moving into the picture. Dollar is losing ground against the euro following the latest better than expected economic data out of China. Chinese Industrial Production saw growth of 10.3 per cent year over year, and that is providing some speculation that the global economy is ready to move higher. This is giving the euro something of a boost, and it’s helping that European markets are closed today.
At 16:17 GMT EUR/USD is up to 1.3408 from the open at 1.3353. GBP/USD is down to 1.5988 from the open at 1.6002. USD/JPY is up to 99.2400 from the open at 99.2255.
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