Here is what you need to know on Tuesday, October 17: The US Dollar (USD) weakened against its rivals on Monday as risk flows dominated the action in
financial markets following a bullish opening in Wall Street. The cautious market stance helps the USD holds its ground early Tuesday as investors await September Retail Sales and Industrial Production data from the US. Several Federal Policymakers are scheduled to speak later in the session as well. Despite escalating geopolitical tensions, major equity indexes in the US registered strong gains on Monday. In the European morning, US stock index futures trade modestly lower.
USD/CAD closed deep in negative territory on Monday before stabilized slightly above 1.3600 early Tuesday. Statistics Canada will release Consumer Price Index data for September and the Bank of Canada will publish core inflation figures. During the Asian trading hours, the data from New Zealand revealed that inflation in the third quarter, as measured by the change in the Consumer Price Index , rose to 1.8% on a quarterly basis from 1.1% in the second quarter.
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