Snapshot of a busy FX space for the week - Scotiabank

FXStreet (Guatemala) - Camilla Sutton, Chief FX Strategist and Managing Director at Scotiabank gave a snapshot of the market at the start of what could be a busy week in the FX space.

Key Quotes:

USD is broadly stronger as fundamentals and flows still support rising USD; this week this theme is likely to be supported by Chair Yellen."

"CAD is weak as fundamentals deteriorate; look for fresh lows leading into March 4th policy decision."

"EUR is soft as USD is broadly stronger leading into important week for EU data and IFO disappoints and Greece overhang continues."

"GBP is soft into tomorrow’s testimony by Gov Carney."

"CHF weakens, trading in tandem with NOK and SEK, as fears over Greece ease and fundamentals come back into focus."

"JPY trades within range with no surprises from BoJ minutes; however big week with release of CPI that could build case for more stimulus."

"AUD is soft but still within range, on broad USD strength and fears of fading capex plans in resource sector."

"USD—CFTC data: little change, with every currency held net short against the USD; but little conviction to add to established positions."