FOMC MINUTES LIKELY TO BE WEEKLY HIGHLIGHT
• USD is mixed but most currencies are +/-0.1% from Friday’s close.
• USD highlight this week is FED minutes—likely to strike a balance between tapering in Sept & rates on hold for an extended period.
• CAD is flat, trading within a 7 session 94-point range. CPI on Friday.
• EUR is up 0.2% after Bundesbank report notes that ECB could hike on inflation and that forward guidance is not a policy shift.
• GBP rallies-CBI revises up its UK growth outlook; technicals are bullish.
• JPY is weak but trading within last week’s range. Exports are strong.
• AUD weakens into the RBA minutes today at 9:30pm EST.
• CFTC sentiment data suggest short covering drove market.
Read the full report: FX Daily
Scotiabank