NONFARM TO BE KEY FOR TAPERING AND USD OUTLOOK
* USD is weak as market pushes out Fed tapering into 2014.
* CAD is flat; CPI today not expected to shift outlook at BoC (Oct. 23rd).
* EUR is strong on a weak USD, flirting with its ytd high of 1.3711.
* GBP is strong, reacting to broader USD weakness.
* JPY is flat and range bound. S&P affirms Japan’s AA-/neg rating.
* AUD rallies to 4-mth high, likely getting ahead of itself leading into the November 4th RBA meeting.
* CNY rallies to fresh record high; Q3 GDP encouraging at 7.8%y/y.
* Today: Cdn CPI & four Fed speakers
* Nonfarm payrolls: to be released on Tuesday Oct 22 & Friday Nov 8th.
Read full report: FX Daily
Scotiabank