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Previous session overview

On Friday, The dollar was down versus the euro and up versus the yen after a significant advance against both major rivals on three sets of stronger than expected U.S. economic reports.

New home sales, consumer confidence and durable goods were all better than the market expected, a sign that the mood of US consumers and businesses may be changing.

EURUSD found ready buyers in London, pushing about 1.5750 but retreated on the reasonable US economic data and the resumption of oil price declines. This left the euro quite flat, near 1.5700.

The British pound rallied against the dollar and euro after UK second quarter gross domestic product met expectations. UK GDP rose 0.2% in the June quarter, in line with market expectations, and the slowest pace of growth since 2001.

The Japanese Yen crosses rebounded as the stock market and risk appetite stabilizes. Like the rest of the world, Japan has also been hit by inflationary pressures. USDJPY traded with a low of 106.58 and a high of 107.95 before closing the day around 107.90.

The Canadian dollar eased against the dollar today with no key data to help the currency rebound.

The Australian dollar was weaker late Monday as risk sentiment weighed on the commodity currency while the greenback continued to find firmer support on better than expected economic data.

Ìarket expectation