USD TO BE DRIVEN IN NEAR‐TERM BY DATA AND FED
* USD is relatively stable leading into the weekend.
* USD could be volatile mid‐day as 3 FED doves & 1 hawk speak.
* CAD is weak as markets push out BoC rate hike expectations.
* EUR is flat and near its highs leading into Sunday’s German election, where the risk is post election debate as oppose to leadership.
* GBP is flat—technicals continue to suggest upside.
* NOK is weak retracing all of FOMC & Norges bank hawkish turn gains.
* JPY flat in quiet session. Relative policy favours USDJPY upside.
* AUD is flat, but RBA Oct meeting likely to focus on 6% AUD rally.
* INR is down even as Governor Rajan surprises by hiking rates.
Read full report: FX Daily
Scotiabank