Daily FX Update

FINANCIAL CONDITIONS IN CHINA WEIGH ON AUD & CAD
* USD — hammer candle in DXY hints at near term bottom.
* CAD weak due to three adverse developments: BoC, China, oil prices.
* EUR flat, falters at multi-year highs given softer data, growth outlook.
* GBP unchanged, given as-expected GDP; BoE strengthens backstops.
* JPY flat while continuing to flirt with bullish break of 200 day MA.
* AUD weak on China developments given implications for growth.

Read full report: FX Daily

 

Scotiabank