UBS - This week's key points for currencies: Stronger data challenging Fed's forecasts

UBS - "In the next three months the Federal Reserve, European Central Bank and the Banks of Japan and England will all publish new economic projections. The upcoming forecast rounds will be important for currencies as they have the potential to shift the course of monetary policy across the major economies.

(...) This week's key points for currencies are:

- stronger data challenging Fed's forecasts
- ECB to keep explicit easing bias in the week ahead
- Japanese CPI outlook risk to USDJPY bulls
- BoE on hold in the week ahead as Carney stays dovish
- RBA unlikely to shift bearish stance on currency
- RBNZ refrains from hiking but AUDNZD still not a buy yet
- payrolls key in the week ahead for Canadian dollar"

Mansoor Mohi-uddin, Managing Director and Head, Foreign Exchange Strategy at UBS Macro Research

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