USD slightly soft following Friday’s jobs report

Key Movers

The EUR was up slightly against the USD this morning largely attributed to the soft USD performance so far today. The Eurozone released a variety of data including the Spanish unemployment change which came in at -60.5. This was worse than the forecasted -74.5. Additionally, French Final Services Purchasing Manager’s Index (PMI) came out above the expected 50.0 level at 51.3. German Final Services PMI came in just below the forecast for 53.3 at 53.2. The overall Eurozone Final Services PMI was above forecasts at 53.3. The EUR Sentix Investor Confidence Index, which rates the relative six-month economic outlook for the Eurozone, was released better than expected at -3.6 versus -4.8. The Eurozone’s monthly Producer Price Index (PPI) came in at -0.4, in line with forecasts.

The Canadian dollar remained mostly unchanged this morning with the USD/CAD pair expected to maintain its short-term hold in the upper 1.36 range. The Loonie didn’t seem to be benefitting from rising oil prices which were up 0.93% this morning. Despite strong oil prices, the CAD remained steady.