USD—NONFARM IS KEY RISK FOR JUDGING PATH
• USD is broadly stronger, retracing yesterday’s weakness.
• CAD is weak on broad USD strength; merch trade expected to fall back into deficit; US car sales are encouraging; Poloz speaks June 6.
• EUR is flat as market contemplates ECB decision on Thursday.
• GBP is weak, failing to react to positive construction PMI or BRC sales.
• JPY retraces some of yesterday’s strength—awaiting Abe’s 3rd arrow.
• AUD weakens on strong USD & RBA on hold at 2.75% with easing bias.
Read the full report: FX Daily
Scotiabank