FX Market Update—The ECB, BoE and Norges Bank left rates on hold; the risk for EUR is upcoming at 8:30am EST with the press conference, the risk for GBP has passed and the less hawkish tone struck by the Nor-ges Bank has weighed heavily on NOK. Today’s focus will be the ECB as well as a slew of US data, including initial jobless claims, the third revi-sion of GDP and factory orders. However, markets are looking out to Friday’s nonfarm payrolls as the key USD risk.
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Scotiabank