ECB & BOE LEAVE POLICY ON HOLD; DRAGHI AT 8:30 EST
• USD is mixed leading into the liquidity reduced July 4th holiday. However global tensions seem to be easing and markets are stabilizing.
• CAD is weak, but still within recent range. Nonfarm to drive near‐term movement, with Cdn employment taking a backseat.
• EUR is flat; ECB leaves rates on hold at 0.5%; Draghi at 8:30am EST. See below for our expectations from Draghi’s comments.
• GBP weakens as BoE leaves rates on hold at 0.5%; statement warns of impact of rising yields on growth but signals new openness at BoE.
• JPY is up but the range has been small. Gov Kuroda provides little new.
•AUD is retracing some of yesterday’s losses as RBA Lowe suggests Stevens was misunderstood; technicals are bearish.
Read the full report: FX Daily
Scotiabank