So far today, forex traders have witnessed several reports from the world’s major economies that seem to be leaning in favor of higher risk appetite. That this sentiment has not materialized is not surprising—considering last week’s ominous jobs report from the American economy—only worth noting for the day’s update.
Australia’s housing sector and Japan’s household confidence both experienced declines, but the major news from France and Canada pointed to significant growth in industrial production and housing starts, respectively. The currencies from both the euro zone and Canada experienced a decline today, however, in spite of recent news. Forex traders appear to be favoring risk aversion as growth outlook concerns took a hit last week and debt contagion spreading to Italy begins to affect the euro zone.
