Markets are showing signs of relative calm into the NA open and Friday’s nonfarm payroll release. Equities are higher, oil prices are up however with the U.S. 10year at 2.67% and vol still elevated it highlights that the market is still watching closely how developments unfold. Today’s highlight is the ECB, who left rates on hold but with President Draghi likely to provides some clues as to the path from here when he speaks at 8:30am EST. Tomorrow’s nonfarm payrolls is key, but as the FT points out today there are several complicating factors, including the weather, year end revisions and the impact of expiring jobless benefits. Today’s calendar (see page 3) includes trade, jobless claims and just one Fed speaker.
Read the full report: FX Daily
Scotiabank