Market in a nut-shell - Scotiabank

Besides the recent news on the ECB, analysts at Scotiabank offered a market snap-shot.

Key Quotes:

"GBP has dropped to a fresh multi-decade low and the USD is strengthening broadly into the NA session as market participants consider the improvement in the broader market tone and its implications for the Fed.

Financial conditions remain a key requirement for Fed confidence, as China/Brexit/ politically-related periods of turbulence have served to delay the normalization process on a year-to-date basis.

Last week’s euro area banking sector related concerns appear to be receding and global equity indices are rising broadly. 

The RBA has left rates unchanged at 1.50%, as expected, with a relatively neutral tone signaling continuity in the transition between Gov. Stevens and Gov. Lowe."