AUD TECHNICALS STILL SUGGEST DOWNSIDE
• USD is mixed as commodity FX outperform on the back of some encouragement from China; other majors weaken. 3 Fed speakers today.
• CAD is flat, after a tight range in Asia & Europe, risk is GDP Friday, but technicals still suggest weakness.
• EUR is flat after ECOFIN is encouraging and German employment better than expected. Today, EU Summit, next week ECB.
• GBP is weak after a downward revision to GDP; next week BoE.
• JPY is flat trading in a tight range. Today at 7:30pm EST CPI.
• AUD is up 0.2% on some encouraging data from China but prepared to ignore change in leadership as political risk remain.
• Gold is showing some signs of stabilizing but trading weakly.
Read the full report: FX Daily
Scotiabank