The USD is mixed leading into the NA open, with growth sensitive currencies like CAD, MXN and AUD all weak, reacting toChina’s disappointing HSBC PMI manufacturing release (49.6) and theirrespectiove domestic positions. The European currencies are all strongwith the rallying beginning well before the stronger than expected PMI releases; JPY and CNY are flat (see middle chart). Today there are no Fedspeakers (as the Fed meets next week) but a slew of second tier releases.
Read the full report: FX Daily
Scotiabank