- The Australian dollar saw slight gains, which came as a surprise as there was a slowdown in consumer prices in the last quarter. The headline data was CPI data – an indication of inflation – slowing to 2.3% in the third quarter, down from 3% last quarter. Australian sentiment had improved, however, after China’s growth came out better than expected, and markets continued to stabilise after a tense week. Concerns over the world economy still remain the biggest threat.
- A poor month for Canada in August dragged the Canadian Dollar lower in pre-Bank of Canada trade. In a disappointing sign for the third quarter – in terms of growth – Canadian retail sales fell to 0.3%. This was another fall for consumer spending, a worrying sign for the Canadian dollar. Forecasts for August were expecting the figure not to change. We also saw the Bank of Canada’s interest rate decision remain at 1% as expected.
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