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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

Japan: Abe kept its two-thirds “super-majority” in Sunday’s snap election - TDS Sandeep Kanihama

Japanese PM Abe’s ruling bloc kept its two-thirds “super-majority” in Sunday’s snap election, points out the research team at TDS.Key Quotes“The result boosts the likelihood of Abe securing a third three-year term as the Liberal Democratic Party’s (LDP) leader, which would set him up to be Japan’s longest-serving PM. It also means “Abenomics”, his platform of fiscal spending and m...

08:46 23 October /2017 Forex

Japan’s Abe: Got a better result than targeted Dhwani Mehta

Japanese PM Shinzo Abe is on the wires now, via Reuters, speaking on his landslide election victory.Key Points:Got a better result than targetedWill hold thorough debate with President Trump on North Korea during his visit to JapanWill try to reach cross-party consensus on constitutionPeople will decide on new constitution in referendumWill begin...

08:46 23 October /2017 Forex

BoC: Another surprise could temporarily boost the CAD - BNPP Sandeep Kanihama

The Bank of Canada (BoC) meets this week after it surprised markets by hiking rates in September, but subsequent comments expressing concern about the impact of currency gains have seen pricing for the October meeting fall to just under 25% chance of a hike, notes the analysis team at BNP Paribas.Key Quotes“If the Bank does deliver a third hike, we would expect USDCAD to test lowe...

08:46 23 October /2017 Forex

ECB tapering well anticipated - BNPP Sandeep Kanihama

Analysts at BNP Paribas suggest that the ECB is likely to take centre stage this week with its scheduled meeting on Thursday when it is widely expected to announce plans for asset purchases beyond December and BNPP’s economists forecast a commitment to purchase EUR 30bn per month (down from EUR 60bn) for a period of six months.Key Quotes“With recent reports suggesting that a 9-mon...

08:23 23 October /2017 Forex

Forex Today: Yen weaker, despite Abe’s big win, a light session ahead Dhwani Mehta

Forex today was mainly driven by risk-on flows, triggered by a strong Abe win in the Japanese elections, which sent the Nikkei to fresh two-decade highs. However, the Yen failed to benefit from Abe’s landslide victory, as the outcome was already priced-in by the markets, while persisting risk-on trades also added to the weight on the safe-haven Yen. Gold also lost ground and hit ...

08:23 23 October /2017 Forex