The Canadian dollar weakens sharply today

The post‐FOMC rally on equity markets ran into resistance today with European shares losing about 0.5%. US Equities opened lower too in an uneventful session.
The IMF called on euro zone governments to take bolder action to ease Greece's debt burden, saying that measures currently on the table do not go nearly far enough to address the country's chronic problems.
Fed's Rosengren warned today the US central bank's failure to get back to a strategy of gradual rate increases may threaten the ongoing US economic recovery. Rosengren added that a significant overshoot of full employment could shorten the recovery.
The Canadian dollar weakens sharply today, ending a four day winning streak, after a set of disappointing eco data. Core retail sales dropped for a second straight month in July and also inflation data came out well below expectations. Core inflation dropped to 1.8% Y/Y, its lowest level in two years.
Brent crude oil prices are trading higher for a fourth straight session, hovering currently around $47.70/barrel. According to Reuters, Saudi Arabia could reduce its crude production should regional Iran cap its own output this year.

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EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.