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Forex Flash: USD finds reasons for optimism – UBS

The ECB has all but confirmed a recession in the Eurozone with its staff forecasts on Thursday, while now most investors are reluctant to be on the other side of the BoJ's upcoming activities. The problem is that markets have heard such stories before, and every time the dollar has come back to disappoint as a growth currency. According to Research Analyst Gareth Berry at UBS, “A long-term beta analysis of weekly DXY returns versus MSCI World returns (a broader barometer of global risk appetite) and apart from a brief respite in 2007, the dollar's risk-funder status has been very clear for the last decade.”
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Canada: Housing Starts rose to 180.7K YoY in February

Canadian Housing Starts rose to a seasonally adjusted 180.7K over the last twelve months in February, beating expectations and previous print at 175K and 159K (revised), respectively. ...
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