Global recession fears rise after China’s May industrial output growth slows to a 17 year low. The markets are looking to the FOMC 18/19th June for direction on near term interest rates. Major currencies remain within their current trading bands, with US$ slightly firmer.
US$ continues to slowly strengthen against C$. Concerns of new US/Iran confrontation after the attacks on shipping could see further volatility in oil prices impacting C$.
EUR & GBP slightly weaker on the day, but remain contained within their current trading bands. US retail sales this morning may provide some intraday direction.