Renewed USD losses are ahead – Scotiabank

USD fails to hold early gains. Economists at Scotiabank expect the greenback to continue slipping. 

There is some calendar risk ahead for markets this week

“The USD’s broader drop back from its early session highs leaves a negative look to the short-term chart and rather suggests that after the modest gains seen in the USD generally through month and quarter-end Friday, renewed USD losses are ahead.”

“Note that there is some calendar risk ahead for markets this week. The Good Friday holiday is not observed in the US, where the Federal government will remain open. That means that the NFP release will be out Friday morning, as usual, when many trading centers elsewhere in the world will be closed.”