Archive - January, 2017

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* US Treasuries hold gains in Asia as equities trade mixed,the Nikkei -0.6%, hang Seng +0.3% and the ASX +0.7%. * Sources say the BoJ would rather be late than early in raising 10y yield tgt even if CPI hits 1% later this year and sees considerable risks in moving too quickly. * JapanesePMI 52.8 v 52.4 prev , the fatsest pace in 3 years. * US Treasury Secretary nominee Steven Mnuchin said “excessively strong” dollar may have negative impact. * US judge app…

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EURUSD - Current Price $1.07316 The USD continues to trade on the defensive this session after President Trump's inauguration speech raised concerns about potential protectionist trade policies. Eur/Usd which slid to an early low near $1.0680 has bounced back to clinch a daily high of $1.0755 ahead of pan-Eurozone consumer confidence and speeches from ECB President Draghi and Chief Economist Praet. From a technical view, we look for resistance around the $1.08 round figure mark fol…

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* US Treasuries gain in late NY and Asia. *Equities are mixed with Japan down as yen rallies the Nikkei -1.3%, ASX -0.8% , Hang Seng unch. * Broader dollar weakness pushes EUR above $1.074. * Oil is little changed even with Russian output cut early than expected by 100k barreles and with OPEC producers agreeing on a way to monitor output cuts. * Gold rises to 2-month high on Trump policy uncertainty * Fed Williams says balance sheet roll off “will cause ra…

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EURUSD - Current Price $1.0622 (-$0.0027) EURUSD is nursing modest losses ahead of the European cash equity market open amid broad risk aversion in financial markets. This follows a report in the Sunday Times over the weekend that UK PM Theresa May will signal she is prepared to leave the single market in a speech tomorrow. The pair reached a low of $1.0593 in Asia although swiftly reclaimed the $1.06 handle. Looking ahead, Italian CPI and Euro Zone trade data make up the data slate wh…

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