USD LIKELY TO END WEEK ON STRONGER NOTE
* USD is broadly weaker; retracing broad strength on the hawkish Fed Fisher. We expect it to rally before week’s end.
* CAD is stronger, no data today, correlations suggest CAD is rangy.
* EUR is up 0.1% but struggling to rally leading what is expected to be a dovish ECB on Thursday. Market fears Japan style economy outlook.
* GBP attempts to rally, but still struggling. News flow is limited.
* JPY is flat, as Japan celebrates culture day.
* AUD rallies on strong retail sales leading into RBA (10:30pm EST).
* CNY has volatile session. This week’s data includes exports & CPI.
* This week: nonfarm, ECB and RBA interest rate decisions & China.
Read full report: FX Daily
Scotiabank