FX STUCK IN RANGES WAITING FOR DATA
* USD is mixed as US politics take center stage. Majors are strong.
* CAD is weak trading in a narrow range. Encouraging retail sales is offset by a deterioration in oil pricing and broader global themes.
* EUR rallies as USD is weak, German GfK confidence rises and PM Rajoy increases growth outlook. Bundesbank’s Weidman speaks today.
* GBP rallies on strong CBI; BoE comfortable with financial stability risks.
* NOK is weak as Norway’s labour market proves weaker than expected.
* SEK is weak—selling accelerates on disappointing confidence release.
* JPY is strong—but news flow is quiet leading into tomorrow’s CPI.
* AUD is weak as RBA releases its Financial Stability Report.
* NZD is weak as trade balance widens on disappointing exports.
* CNY is flat as it heads into next week’s holidays (national week).
* Today: durable goods, new home sales; Weidmann at 11am EST.
Read full report: FX Daily
Scotiabank