European equities are trading softer overnight as we wait for guidance from ADP / NFP, with most markets posting losses close to 1%. Despite equity market weakness, LATAM FX look set to open relatively flat as suggested by overnight proxy MXN and the somewhat firmer commodity market (oil +0.6%, copper +0.3%). The regional outlier should be BRL, where we look for a strong open after the IOF unwind.
Read the full report: FX Daily
Scotiabank