USD IS POISED FOR STRENGTH INTO YEAR‐END
• USD is weak as market consolidates. Our outlook is for USD strength into year‐end on relative monetary policy & growth divergence.
• CAD is up 0.2% on broader moves. Today’s BoC reports important.
• EUR is consolidating, ignoring weak German exports, trading closely with GE-US 2‐yr spreads; Greek Troika prove favourable. Draghi at 9am.
• GBP is flat after a quiet session. News flow has been light.
• SEK is weak, down 0.7% as industrial production disappoints.
• JPY is flat and trading in tight range. Highlight is upcoming BoJ meeting.
•AUD is consolidating, but trading close to lows. Highlight will be jobs.
Read the full report: FX Daily
Scotiabank