FX space; key events in a snapshot - Scotiabank

FXStreet (Guatemala) - Analysts at Scotiabank gave a snapshot at the market in the FX space.

Key Quotes:

"USD is broadly weaker as the market catches its breath; signals all point to ongoing USD upside risk."

"USD rally to continue as Fed makes progress with stable core inflation and strong nonfarm."

"This week quiet from data and Fed perspective."

"Watch oil and rate spreads for clues."

"EUR has stabilized, retracing 0.3% from its lows; ECB begins QE bond buying, Greece is in spotlight & investor sentiment rises."

"EUR—technicals warn of bearish downside risk; with support at 1.08."

"GBP rallies temporarily, expect fresh test of January lows."

"USD/JPY is flat, even as Q4 is revised materially lower, warning of fresh BoJ action and a fresh test higher in USD/JPY. "

"AUD is flat, with downside mitigated by strong Chinese releases."

"CNY is flat, ignoring record high trade balance; CPI today"