Snapshot of cross markets and FX space - Scotiabank

FXStreet (Guatemala) - Camilla Sutton, Chief FX Strategist, Managing Director at Scotiabank noted the recent conditions in the FX space and cross markets.

Key Quotes:

"USD is strong retracing FOMC losses, most currencies in broad ranges. FOMC less hawkish than expected but potential remains for June hike."

"WTI dragged lower by concerns over rising inventories. Today’s release is at 11am and could prove important driver for WTI."

"CAD is soft on broad USD strength and lower oil prices; no data but BoC Cote speaks today. USD/CAD still in broad 1.2314 to 1.2799 range."

"EUR is flat as Greece’s request for an extension is encouraging but uncertainty & headline risks looms; ECB minutes provide lots of detail."

"GBP is up, flirting with yesterday’s highs, as CBI manu is stronger than expected. We are biased to be long GBP."

"NOK weakens on lower oil & government’s resistance to stimulus."

"SEK is soft on dovish Riksbank suggesting no limit to negative rates and at current levels it would not justify FX intervention."

"USD/JPY is flat as trade data highlights impact of lower oil prices; but fails to soothe economic concerns."

"AUD is weak on broad USD strength as well as S&P comments that as commodity prices have dropped it has weighed on the AU budget."