External broker reports(aggregated public sources), Scotiabank

Scotiabank

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External broker reports(aggregated public sources)

FX & Rates

<ul><li>The USD rallied hard on the back of Friday’s US jobs data as US yields popped sharply higher and the currency has built on those gains early Monday following Fed Chairman Powell’s “60 Minutes” interview last night (pre-recorded ahead of the NFP data) which further doused market expectations for a March rate cut.</li><li>Powell said the “danger of moving too soon is that the job is not done” and reiterated that policymakers may not have enough confidence that inflation is moving lower in a sustainable way by March.</li><li>March swaps reflect just 4bps of easing now, with a full 25bps cut not reflected in OIS pricing until June. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The USD rallied hard on the back of Friday’s US jobs data as US yields popped sharply higher and the currency has built on those gains early Monday following Fed Chairman Powell’s “60 Minutes” interview last night (pre-recorded ahead of the NFP data) which further doused market expectations for a March rate cut.Powell said the “danger of moving too soon is that the job is not done” and reiterated that policymakers may not have enough confidence that inflation is moving lower in a sustainable way by March.March swaps reflect just 4bps of easing now, with a full 25bps cut not reflected in OIS pricing until June. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

FX Daily - USD Recovery Extends on Higher US Yields