Daily FX Update

The USD is broadly lower as markets await May non-farm payroll data and evaluate the sustainability of US equity gains. Investors are showing increased interest in emerging market equities while reassessing their USD exposure.

Key Takeaways

• 1.USD is softening ahead of US non-farm payroll data, despite soft risk appetite.
• 2.Investors appear to be rotating portfolios away from US assets toward emerging markets, citing valuation concerns and potential tariff-related growth constraints.
• 3.Canadian labour data is the focus for CAD, with expectations for positive employment growth.

Table of Contents

• Overview
• USD Edges Lower Ahead of Payrolls
• USDCAD
• USDCAD short-term technicals
• EURUSD
• EURUSD short-term technicals
• GBPUSD
• GBPUSD short-term technicals
• USDJPY
• TODAY'S CALENDAR

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