USD WEAKENS INTO IMPORTANT NONFARM WEEK
• USD is broadly weaker retracing from Friday’s strong close.
• CAD rallies, supported by China’s +50.8 PMI broad USD weakness.
• EUR rallies on rising PMIs; ECB on Thursday to leave rates on hold, press conference and discussion of negative rates to be likely focus.
• GBP rallies on rising PMI; BoE on Thurs expected to prove non‐event.
• CHF weak after SNB Jordan says CHF still highly valued & housing could be heading for bubble. EURCHF floor expected to remain.
• JPY is strong as capital spending proves better than expected and S. Korea warns over impact of weak JPY.
• AUD rallies, up 0.9%; RBA decision – expected to hold at 2.75%.
Click here to read the full report: FX Daily
Scotiabank