EUR PROVES HIGHLY SENSITIVE TO ECB OUTLOOK
– USD is broadly weaker, as risk appetite recovers slightly.
– CAD is retracing some of yesterday’s losses after the BoC shifted a less hawkish stance; Gov Carney speaks today a t 11am EST.
– EUR is strengthens but yesterday’s negative reaction to dovish Weidmann comments highlights the importance of central banks.
– GBP is strong, even after disappointing retail sales;
– JPY weakens; trade deficits narrows & foreigners buy JPN equities.
– CNY temporarily reaches new high; trading band likely to be widened.
– Technicals: suggest near‐term buying of USDJPY, EURUSD & USDCAD.
– Copper fell to a 1.5yr low reflecting a deceleration in the global growth outlook.
Click here to read the full report: FX Daily
Scotiabank