Risk appetite has improved supporting stronger equities, higher bond yields and a mixed USD. The international response to Crimea’s referendum is a focus as is softer than expected Eurozone inflation and China’s decision to widen the CNY trading band. In this environment the growth currencies of AUD, CAD, NZD and NOK are outperforming, with CNY, JPY and CHF materially lower and EUR and GBP down just 0.1%. Today, there is a slew of second tier data—see calendar on page 3; but the focus is the developments to come later this week, including the FOMC meeting on Wednesday.
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Scotiabank