Will It Be A Spooky October For FX?

Meanwhile, the Australian and New Zealand dollars followed stocks higher, rallying for the fourth day in a row. Euro also gained strength but its move was modest in comparison. Australia’s manufacturing PMI index fell in the month of September but investors shrugged off the report as they look forward to a stronger recovery in October. Australia just eased their two-month lockdown restrictions in Melbourne this week. Manufacturing PMI numbers for Germany were revised lower but the composite index held steady as the French measure improved. The Canadian dollar sold off on the back of lower oil prices despite stronger building permits.

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