Scotiabank FX Daily - Risk Off Mood Returns As Markets Await U.S. CPI
- USD retains defensive undertone despite shift to risk aversion; CPI 8:30am ET.
- CAD fading slight portion of recent rally but remains fundamentally undervalued.
- EUR continues to consolidate in low/mid-1.13s; cross curr. basis offers relief.
- GBP outperforming on improvement in domestic rate expectations; neutral.
- JPY steady consolidating May’s haven-driven rally; spreads, RRs hint to fade.
- AUD extending bearish turn following Monday’s reversal; jobs data 9:30pm ET.
- MXN quiet and holding in relatively well despite turn in market tone; neutral.
12 Jun 2019 - 12:49- Economic Commentary- Source: scotiabank
Subscribe Now to RANsquawk
Click here for a 1 week free trial
RANsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include:
- Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
- Teams of analysts covering equities, fixed income, FX, energy, and metals markets
- Real-time scrolling news service with instant analysis
- Daily and weekly pre-market research and calendars
- Video updates covering near-term key risk events & primary trading themes
- One-to-one chat with our expert analysts