FRIDAY’S NFP IS KEY EVENT FOR FX THIS WEEK
● USD — upside risk expected on geopolitical risk and relative CB policy.
● CAD flat ahead of Wednesday’s BoC as correlation to 2Y spread rises.
● EUR weaker despite economic improvement as focus turns to risks.
● GBP stronger as a result of a better than expected construction PMI.
● JPY flat, sensitive to geopolitical risk ahead of BoJ.
● AUD outperforming as RBA leaves policy unchanged; tone improves.
Read the full report: FX Daily
Scotiabank