RISING RISK OF RBA RATE CUT WEIGHS ON AUD
• USD is quiet leading into this week’s event risk of FED, ECB, BoE, China’s PMI & US payrolls. DXY still trending lower, flirting with 200day.
• CAD flat waiting for Wed’s GDP & FED. AUDCAD at new low.
• EUR is flat waiting for FED and ECB; technicals are bullish.
• CHF is flat—SNB release Q2 FX reserves that changed little m/m.
• GBP is flat– after a quiet session as markets await BoE & FED.
• SEK is down 1% after disappointing Q2 GDP, falling –0.1%q/q.
• JPY is flat; weak industrial production was offset by equity gains.
•AUD is weak, down 1.5%, on rising risk of an RBA rate cut next week after Governor Stevens strikes dovish chord.
Read the full report: FX Daily
Scotiabank