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13 Apr 2015
FX space in a snapshot; dollar dominates - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, chief currency strategist at Scotiabank noted the conditions in the FX space at the start of the trading week.
Key Quotes:
"USD is strong having made broad based gains across FX markets."
"USD focus this week is earnings, IMF meetings & slew of data."
"CAD is weak on broad USD strength, weak data from China and the looming BoC meeting."
"EUR is weak, down 5% over six sessions; data today was scarce but rumours of a Greek election weighed."
"EUR—ECB on Thursday ‐ we expect no change to policy, QE or tone."
"GBP hits fresh multi‐year lows as market reacts to broad USD move, concerns about slower growth and the looming election."
"CHF is weak, but trading in tandem with EUR."
"JPY is weak, even as data is strong, expect JPY to prove more contained than others for now."
"AUD collapses lower on weak Chinese data, testing back towards lows."
"CNY is weak as data disappoints; exports fall –15%y/y, driving concerns over Q1 growth—seasonality might explain some, but not all."
Key Quotes:
"USD is strong having made broad based gains across FX markets."
"USD focus this week is earnings, IMF meetings & slew of data."
"CAD is weak on broad USD strength, weak data from China and the looming BoC meeting."
"EUR is weak, down 5% over six sessions; data today was scarce but rumours of a Greek election weighed."
"EUR—ECB on Thursday ‐ we expect no change to policy, QE or tone."
"GBP hits fresh multi‐year lows as market reacts to broad USD move, concerns about slower growth and the looming election."
"CHF is weak, but trading in tandem with EUR."
"JPY is weak, even as data is strong, expect JPY to prove more contained than others for now."
"AUD collapses lower on weak Chinese data, testing back towards lows."
"CNY is weak as data disappoints; exports fall –15%y/y, driving concerns over Q1 growth—seasonality might explain some, but not all."