USD/CAD continues 3-day losing streak

Key Movers

The US dollar Index (DXY) found support above the 104 level and was up a quarter percent this morning. While the DXY continues towards positive movement, the US National Federation of Independent Business (NFIB) Optimism Index fell to 91.3 in August, below the forecasted 91.6. This is the 20th consecutive month below the series average of 98.

In the Eurozone, the Zentrum für Europäische Wirtschaftsforschung (ZEW) economic sentiment index dropped further to -8.9 in September. This is significantly lower than the -5.5 reading in August and missed the anticipated level of -6.2.

Mixed data out of Great Britain showed a rise in weekly earnings alongside increased unemployment rates. The average weekly earnings growth rose 8.5% annually, up from 8.4% a month earlier. However, unemployment rose to 4.3% from 4.2% the previous month.

The National Australia Bank reported business confidence at 2-points. This reading is up from the 1-point reading in July. The National Australia Bank also reported current business conditions at 13, up from 11 in July.