Risk sentiment shifted towards risk-off, which is supporting the US dollar. Concerns about the debt crisis regarding China Evergrande has caused traders to shift towards safer assets. The Japanese yen is continuing to trade weak, maintaining it’s position as the worst performing G-10 currency this year.
“The hard days are what make you stronger.”
September 24, 2021
EUR/USD 1.1713 GBP/USD 1.3680 USD/CAD 1.2702 AUD/USD 0.7251 USD/JPY 110.63 USD/CNH 6,4675 USD/ILS 3.2000 USD/MXN 20.1400 USD/CHF 0.9250 USD/INR 73.75 USD/BRL 5.3415 USD/SGD 1.3540 USD/DKK 6.3480 USD/SEK 8.6535 USD/NOK 8.6100
Concern regarding the China Evergrande debt crisis has impacted market risk sentiment supporting the US dollar. The Bloomberg dollar index climbed from a one-week low hit yesterday.GBPSterling is trading almost 60 points lower after the rally yesterday. The market will look for additional clues from the Bank of England at the central bank’s Governor Andrew Bailey’s speech next week.EUR
EUR/USD remains with a $1.17 handle, trading within a tight 1.1703-1.1748 range.CADUSD/CAD is trading higher on broad US dollar strength and general market risk sentiment. Retail sales out of Canada released yesterday showed a rebound after falling earlier in the summer.ASIA/PACIFIC
The Japanese yen is the worst performing G-10 currency, weakening 4% so far in 2021. While other bonds around the world surge, Japanese bond yields remain low. Inflation data out of Japan released on Friday showed a decrease in consumer prices of 0.4% compared to at least a 3% increase from the US and eurozone.
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