US & UK HOLIDAY—QUIET MARKETS
• USD slight weakness as US & UK markets are closed.
• CAD is soft leading into important week with Carney’s last statement.
• EUR is flat with limited news flow.
• GBP is flat with limited news flows; technicals suggest downside.
• JPY is strong as BoJ minutes note volatility risk. Japan is at a crossroads with BoJ failing to do what others accomplished: crush volatility.
•AUD is weak; this week’s highlight to be outlook for mining capex.
• CNY rallies to a fresh record high; but worries persist over growth.
• CFTC data highlights an environment where traders favour the USD.
Click here to read the full report: FX Daily
Scotiabank