The USD is mixed and relatively quiet leading intothe NA session with the US 10‐year yield hovering around 3%. This is thefirst full week of the year and includes significant data and central bankrisk. The most important releases are China’s monthly data releases (begins Wed with exports); the Fed minutes (Wed), which will give someinsight into the decision to begin tapering; the ECB interest rate meeting(Thursday); and US employment (Friday), expected to show job gains of195k. Today’s focus will the confirmation vote for Janet Yellen and ISMnon‐manufacturing index as well as the focus for the year ahead.
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Scotiabank