Entering the second half of the week, FX markets are trading in narrow ranges as looming risk of central bank meetings and nonfarm payrolls looms. Today’s ADP employment report is expected to show gains of 210k (in line with Friday’s nonfarm estimate of 215k); while the Beige Book will be used as anecdotal evidence for theFed’s June 18th policy decision. In addition U.S. trade and ISM nonmanufacturingwill provide clues into how the economic backdrop is unfolding.
Read the full report: FX Daily
Scotiabank