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Momentum in global markets is extremely stretched – ANZ

Analysts at ANZ suggest that their Global Market Sentiment Index remains above one, suggesting that momentum in global markets is extremely stretched as the current run in risk appetite has also been exceptionally sustained – with almost 250 days of consistently above zero risk appetite readings.Key Quotes“Similarly, volatility across both assets and bonds remains extremel...

10:46 23 October /2017 Forex

US Dollar firmer, closer to 94.00

The greenback, tracked by the US Dollar Index (DXY), is trading on a firm note at the beginning of the week and closer to the critical up barrier at 94.00 the figure.US Dollar looks to USTsThe index is adding to Friday’s gains and navigating the area of multi-day tops in the 93.80/9...

10:46 23 October /2017 Forex

Gold flirting with lows, near $1275 level Haresh Menghani

Gold maintained its offered tone through early European session and slipped further below $1280 level, to its lowest level since Oct. 6.The precious metal remained on the back-foot at the start of a new trading week and was being weighed down by persistent US Dollar buying in...

10:46 23 October /2017 Forex

Spain: Political uncertainty amid QE exit risks – Deutsche Bank Sandeep Kanihama

Analysts at Deutsche Bank suggest that tensions around the situation in Catalonia are likely to weigh on Spanish growth and confidence.Key Quotes“Spain has made considerable progress in correcting imbalances since the crisis - with the current account in surplus and private sector indebtedness falling steadily in recent years. However, material imbalances remain when it comes to Sp...

10:46 23 October /2017 Forex

GBP/USD takes a sharp U-turn, back below 1.3200 Dhwani Mehta

The GBP/USD pair failed to sustain the bounce above 1.32 handle and reversed sharply below the last, as the USD buyers returned to markets in Europe, despite weaker US rates and European equities.GBP/USD sold-off near 1.3230The spot came under fresh selling pressure on the European open and...

10:46 23 October /2017 Forex

Spain’s Deputy PM: Central Govt may choose a single representative to govern Catalonia temporarily Dhwani Mehta

Soraya Sáenz de Santamaría, the Deputy Prime Minister of the Government of Spain, crossed the wires last minutes, via Livesquawk, noting:Central government hasn’t had any contact with Catalan regional govt since SaturdayCentral government may choose a single representative to govern Catalonia temporarily

10:23 23 October /2017 Forex

Japan: Abe marches on, tread carefully with USDJPY – Deutsche Bank Sandeep Kanihama

The decisive election win for Abe and recent upward pressure on US back-end rates opens up some headroom for USD/JPY, according to Mallika Sachdeva, Strategist at Deutsche Bank.Key Quotes“Novembers historically have been bullish USD/JPY, positioning is not at extremes, and USD/JPY remains a good expression of our tactically bullish USD view into year-end. Geopolitics remains a dow...

10:23 23 October /2017 Forex

AUD/USD bulls manage to defend 0.78 handle, for the time being

The AUD/USD pair caught some fresh bids near the 0.7800 handle and has managed to rebound over 30-pips from 1-1/2 week lows touched earlier. Currently hovering around 100-day SMA, near the 0.7830-35 region, the pair's recovery move from Asian session lows could be solely attributed to a modest US Dollar...

10:00 23 October /2017 Forex

Japan’s Abe is preparing for a new meeting with Putin next month - TASS Dhwani Mehta

Following his strong win in Sunday’s snap election, the Japanese PM Abe spoke further on Monday, this time via TASS, noting that he is preparing for a new meeting with Russian President Vladimir Putin on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit due in Vietnam in November.Abe s...

10:00 23 October /2017 Forex

China: Real estate investment will slow materially in 2017/18 – Westpac

The past two months have seen a rapid slowing in house price growth in China’s tier 1 cities as for new housing, annual price growth in tier 1 has now slowed to 1%yr at September, from 8%yr two months ago and its peak of 31%yr in April 2016, explains Elliot Clarke, Research Analyst at Westpac.Key Quotes“Whereas it was initially Shenzhen that led the tier 1 aggregate down, now the ...

09:46 23 October /2017 Forex

BOC: Market pricing for a rate hike has declined measurably - Citi Dhwani Mehta

Citi FX Strategists offer a sneak peek into the upcoming Bank of Canada (BOC) interest rates decision due to be announced on Wednesday.Key Quotes:                  “Market pricing for a rate hike has declined measurablyWhile the Bank of Canada's outlook survey dipped through Q3, much of the upswing post oil shock has heldDiving deeper into the da...

09:46 23 October /2017 Forex

GBP/USD stays neutral near term – UOB Pablo Piovano

According to FX Strategists at UOB Group, Cable is expected to stay sidelined in the next weeks, likely between 1.3080 and 1.3280.Key Quotes24-hour view: “GBP dropped to a low of 1.3087 before staging a sharp swing higher to hit a high of 1.3201. While the rapid up-move appears to be running ahead of itself,...

09:46 23 October /2017 Forex

EUR/USD still capped around 1.1858/80 – Commerzbank

Senior Analyst at Commerzbank Axel Rudolph noted the pair should stay focused on 1.1730 as long as recent highs in the 1.1858/90 band cap the upside.Key QuotesEUR/USD’s recent decline has taken it to last week’s low at 1.1730 before the cross began to rise again. Last week it was rejected by the 55 day ma a...

09:23 23 October /2017 Forex

Saudi state media: Saudi and Iraq satisfied with oil market recovery - RTRS Dhwani Mehta

Reuters reports a story from Saudi Arabia’s state media, citing that the Kingdom and Iraq expressed satisfaction with the ongoing global oil market recovery, in the wake of the OPEC output cut deal extension.  

09:23 23 October /2017 Forex

Nickel: Deficits not enough to prevent slide in prices - TDS Sandeep Kanihama

Analysts at TDS, explain that Nickel prices rallied above the $12,000/t mark on Friday amid reports of widening deficits, news that production at Brazil’s Vale fell 4.3 percent year on year in the last quarter and dropping LME/Shanghai on warrant inventories, all of which led to a bout of short covering.Key Quotes“Short Nickel, Enter: $12,050/t, Stop: $12,800/t, Target: $1...

09:23 23 October /2017 Forex

ECB, Riksbank and Norges Bank's amongst market movers this week – Danske Bank Sandeep Kanihama

In a week relatively quiet on data releases, the main focus in financial markets will be on the ECB, Riksbank and Norges Bank's meetings on Thursday, suggests the research team at Danske Bank.Key Quotes“We expect the ECB to announce a QE extension of nine months at a pace of EUR30bn, while we do not expect any changes to the bank's forward guidance. In terms of the Riksbank meetin...

09:23 23 October /2017 Forex

ECB’s Praet and UK’s CBI industrial orders in focus today - TDS Sandeep Kanihama

Analysts at TDS, outline that markets are looking for UK’s CBI industrial orders to rise from +7 to +9.Key Quotes“Recently we’ve seen the patterns from earlier this year reverse, with the manufacturing PMI deteriorating but actual manufacturing activity finally showing some growth, so we’ll be looking for a confirmation in either direction from the CBI survey.”Th...

09:23 23 October /2017 Forex

NZD/USD rebounds sharply from 5-month lows, 0.70 mark back on sight Haresh Menghani

The NZD/USD pair reversed an early dip to 0.6930 area and has now recovered around 60-pips from fresh 5-month lows touched earlier today.NZ First leader Peters announced last week that his party would form a coalition with Labour and the market greeted the new government by sending the domestic currency sharply lower across the board. Adding to t...

09:23 23 October /2017 Forex

Japan's Nishimura: Abe, Trump agree to raise pressure on North Korea - RTRS Dhwani Mehta

Yasutoshi Nishimura, a Japanese deputy chief cabinet secretary, said on Monday, Japan’s PM Abe and US President Trump agreed to work together to raise pressure on North Korea in a telephonic conversation, after  Japanese premier’s ruling  party scored a big win in an election on Sunday.Nishimura also told reporters that Abe and Trump were planning to play golf together on Nov. 5, when Trump makes ...

09:00 23 October /2017 Forex

USD/JPY looking to close the bullish opening gap?

The bid tone around the Yen is seen growing bigger, as we head into early Europe, now pushing the USD/JPY further southwards in a bid to close in the bullish opening gap witnessed in Asia.USD/JPY: Sell the fact on Abe’s landslide victory The outcome of the Japanese election, with 08:46 23 October /2017 Forex