Petro-currencies have reversed some of their earlier gains as both Brent crude oil and West Texas Intermediate crude oil dipped back below $50 in the afternoon.
The Canadian dollar is stronger by 0.3% at 1.2984 per dollar, the Russian ruble is weaker by 0.2% at 65.5909 per dollar, and the Mexican peso is up by 0.2% at 18.4436 per dollar as of 1:39 p.m. ET.
As for the rest of the world, here’s the scoreboard this afternoon:
- The British pound is stronger by 0.2% at 1.4659 after UK GDP was in-line with economists’ estimates. The Office for National Statistics said first quarter Second Estimate GDP rose 0.4%, unchanged from the initial look. However, it also marked a slowdown from the 0.6% growth seen in the fourth quarter. The Japanese yen is stronger by 0.4% at 109.71 per dollar. Meanwhile, Japanese Prime Minister Shinzo Abe made a flashy comparison between the current global economic environment and the global financial crisis eight years ago. The euro is weaker by 0.3% at 1.1185 after dipping to 1.1130 on Wednesday. “The $1.1200-1.1220 area may bring in fresh sellers ahead of Yellen’s speech tomorrow,” wrote Marc Chandler, the global head of currency strategy at Brown Brothers Harriman, in a note to clients. The US dollar is weaker by 0.2% at 95.19 after durable goods orders unexpectedly fell, pending home sales spiked to the best level in a decade, and jobless claims fell by more than expected.