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An active day for the data agenda, China PMIs a focus. 0100 GMT Australia – Melbourne Institute monthly CPI inflation for August 0100 GMT New Zealand ANZ business survey for August final Business Confidence  Activity Outlook  0100 GMT China official PMIs for August Manufacturing expected 51.2, prior 51.1 Non-manufacturing expected 54.2, prior 54.2 Composite prior
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The party continues The S&P 500 is back at 3504, up 19 points on the day. The index has had two negative days this month. Two! It’s a sea of green fueled by cheap borrowing rates. Every dip is a buy, all bad news is good news. For bank trade ideas, check out eFX Plus
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The risk-on march continues to push forward Eurostoxx +0.3% Germany DAX +0.3% France CAC 40 +0.3% UK FTSE +0.4% Spain IBEX +0.3% US futures are also seen up by ~0.5% as we get things going on the session, as stocks are continuing to keep in a better mood following Fed chair Powell’s speech yesterday. In
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NZD/USD up 16 pips to 0.6637 today Bank of America Global Research discusses NZD/USD outlook and targets the pair at 0.64 by end of Q3 and at 0.62 by year-end. “The NZD is likely to be held hostage to external factors, particularly the coronavirus situation and global recession. China remains New Zealand‘s largest trading partner
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The market is staying more tepid as we await Fed chair Powell’s speech Eurostoxx flat Germany DAX +0.1% France CAC 40 +0.1% UK FTSE flat Spain IBEX -0.2% It is a quiet start to European morning trade, with the market largely moving sideways in anticipation of Powell’s speech later today. US futures are down by
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Latest data released by INSEE – 26 August 2020 No change to the French consumer confidence level this month and this further underscores that any major recovery in economic sentiment is still seen wanting, especially with virus cases starting to be on the rise again across Europe. The recovery in the region is still running
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Central bank divergence  A key trading principle in the FX world is trading a strong currency against a weak currency. In this way it is more probable to predict direction in the pair. A great example of this is now occurring in the AUDNZD pair.  We have reasons for continued NZD weakness agains the AUD. 
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What’s on your radar for today? It’s a very quiet start to the week and with Jackson Hole at the end of the week it looks like we will have a repeat of last week’s price action. Quiet start, busier end to the week. Gold is looking interesting as price is coiling up within the
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