The Canadian dollar weakened above $1.35—a level not seen since early November after the GDP results. The Canadian economy increased by 2.9% annually in Q3 of 2022, beating expectations for a modest 1.5% growth.

On Monday, the dollar fell against a group of major currencies and is closing in on a price of 105. This is the lowest level since August, as investors reevaluated the outlook for growth and monetary policy. Fed’s possible slow down of rate hikes is currently driving the dollar pullback.

GBP/USD climbed above $1.2100, a level not seen in more than three months. The dollar declined following the hint that the Fed would soon start reducing rate hikes sparked this move. The pound was already rising as investors were examining recent economic data while cheering Rishi Sunak’s and Jeremy Hunt’s economic plans.

The Reserve Bank of New Zealand raised its interest rates by 75bps to 4.25% during the November meeting. This is the highest since early 2009 and in line with market expectations. The rate hike was biggest in the central bank’s history in an efforts to tackle high inflation. NZD strenghtened 0.75% against most currencies after the announcement.

GBP/USD bounced back close to $1.2000, recovering from a slight loss on Thursday. Now it’s set to finish the week about 1% stronger. Fresh figures showed retail sales grew 0.6% in October, which helped GBP/USD to rise amid dollar weakness.

GBP/USD jumped by 2% today, mainly driven by the weak US dollar. GBP/USD reached 1.2000 for the first time since August, up from 1.05 just seven weeks ago.

The Reserve Bank of India will start testing its central bank digital currency (CBDC) on December 1st. The testing will run in Mumbai, New Delhi, Bengaluru and Bhubaneswar. Some of the major banks, such as the State Bank of India, ICICI Bank, Yes Bank, and IDFC First Bank, will participate.

The Canadian dollar weakened above $1.35—a level not seen since early November after the GDP results. The Canadian economy increased by 2.9% annually in Q3 of 2022, beating expectations for a modest 1.5% growth.

Spain’s annual inflation fell to 6.8% in November 2022, moving further away from July’s 38-year high of 10.8%. Inflation remained below market expectations at 7.4%. The slowdown in the inflation rate was mainly led by declines in the cost of fuel and electricity.

After going down for eight months, the EU economic sentiment indicator went up by one point in November 2022 to reach 93.7. The result slightly exceeded forecasts of 93.5, but it remained close to its lowest level in two years. Rising interest rates, high inflation, and a worsening energy crisis during the winter all put a damper on sentiment.

BlockFi officially filed for bankruptcy on Monday. It has become the latest crypto company crippled by the collapse of FTX. It was functioning since 2017 with more than 450,000 clients.

Pinduoduo (PDD) stock jumped 15% in the pre-market after quarterly results. The company reported much higher earnings per share of 8.62 instead of 4.79. The forecasted revenue for Q3 was $30.71 billion, but the firm surprised the market with $35.5 billion revenue.