The USD is marginally lower as markets balance blowout US jobs data against expected Fed rate cuts. Major G10 currencies are mostly steady or slightly stronger as fundamental correlations begin to recover.
Key Takeaways
- 1.The USD remains broadly soft, though strong NFP jobs data may temporarily stabilize the bearish trend.
- 2.The Canadian Dollar ignored a US Senate vote to end tariffs, focusing instead on BoC policy uncertainty.
- 3.EURUSD shows signs of stabilization as correlations return to fundamental yield spreads.
Table of Contents
- Overview
- Riskies Suggest Soft USD Sentiment
- USD Steadies after Jobs Data
- USDCAD (1.3561)
- EURUSD (1.1878)
- GBPUSD (1.3643)
- USDJPY (153.27)
- TODAY'S CALENDAR
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Authors
Shaun OsborneEric Theoret
Securities
DXYUSDJPYEURUSDGBPUSDUSDCAD
Themes
Central Bank Policy DivergenceFX Intervention RisksUSD Bearishness
Regions
North AmericaEuropeUKUnited StatesCanadaJapan