USD RALLIES AS GLOBAL GROWTH OUTLOOK SOFTENS
• USD is broadly stronger, retracing some of its recent weakness.
• CAD is holding in well considering rising fears over Chinese growth and the broader USD rally. Next week’s highlight is BoC decision.
• EUR is weak as political tensions in Portugal rise & broad USD rally.
• GBP weakens given soft construction output & broad USD rally.
• JPY is weak leading into a long weekend on the broader USD rally.
• AUD collapses, flirting with lows – market prices in risk of RBA rate cut.
• CNY is within its range after FinMin suggest just 7% GDP this year.
• Focus today is earnings; Fed speak, PPI & U of Mich confidence.
Read the full report: FX Daily
Scotiabank