The US dollar continued to ease against most of its peers with Friday’s session seeing the US dollar index falling 9.1% on a year to date basis. Besides geopolitics, a dovish Fed alongside the hurricanes in the US has kept the sentiment in the greenback in check.
On the economic front, following a rather busy Thursday, Friday saw the release of UK’s manufacturing and construction output. With the exception of manufacturing production, construction output fell 0.9% while industrial production rose a modest 0.2% as expected. Canada’s monthly employment report saw the unemployment rate falling to 6.2% while the economy added 22k jobs during the month.
Looking ahead, the economic calendar today is light with no major events to fall back upon. Italian industrial production numbers are due to come out at 0800 GMT followed by housing starts data from Canada later in the afternoon.
