– USD is strong as gold collapses, China’s growth disappoints and the US Treasury suggests it is monitoring Japan closely.
– GOLD drops 10% over last two‐sessions sparked by the potential of central bank selling and followed by two sell recommendations.
– CAD is weak as the dual impact of disappointing Chinese and US growth weigh heavily on Canada’s domestic outlook. BoC on Wed.
– EUR is weak on broad developments; Draghi gives lecture today.
– GBP is weak, but outperforming on cross with little domestic news.
– JPY is strong, benefitting from risk aversion & a broadly stronger USD.
– AUD is weak, down 1% on fears that China’s growth outlook has moderated and that gold pricing will weigh on Australia’s mining sector.
Click here to read the full report: FX Daily
Scotiabank