The USD remains on a broadly strengthening trend, as questions over some European financial institutions were re‐awakened after some details of the EU’s stress testing plans came out earlier this week. However, the overnight release of China’s Markit/HSBC flash manufacturing PMI showed an improvement in the Asian giant’s industrial activity, helping prop up commodity pricesdespite the greenback being broadly stronger against most risk proxy FX. Today, the release of the US preliminary MarkitPMI, and the KC Fed’s manufacturing index should both be watched, while in the Latam space, Brazilian unemployment andMexico’s CPI and economic activity indices should take center stage.
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Scotiabank