The USD is weak entering the NA employment session as other asset classes are trading in relatively tight ranges. The focus today is nonfarm payrolls, how most are prepared to look through it on the back of weather. We see yesterday’s break in ranges across FX as a potential important signal—should the USD weakness move be confirmed with the close today, it signals the beginning of a new wave of USD weakness, likely to last into mid‐March.
Read the full report: FX Daily
Scotiabank