NONFARM IS KEY INPUT FOR USD TRADERS
• USD is weak, DXY breaks through support; USDJPY leading markets.
• USD—nonfarm expected to be important input for tapering and USD.
• CAD—is strong on broad moves; Poloz carries same tone as Carney.
• EUR is strong on broad USD move and Draghi’s comments. German data surprisingly strong (exports and industrial production).
• GBP is flat, with markets awaiting nonfarms.
• JPY is strong and leading markets; volatility has shot higher; market debates whether this is profit taking or signs of a failing Abe strategy.
• AUD is still weak falling victim to AUDJPY.
Read the full report: FX Daily
Scotiabank