Markets are generally stable into the NA open, butwith the US 10year yield at 2.62%, volatility elevated and JPY outperforming the majors there are still signs that markets are jittery. The focus is shifting to the labour outlook in the US (today’s ADP and nonfarm areboth expected to show job gains of 185k) and central bank policy (withtwo Fed speakers today—see calendar—and the ECB tomorrow). We expect 2014 to be marked by rolling periods of risk.
Read the full report: FX Daily
Scotiabank