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Good morning,
Long USDJPY from yesterday, sold half @ 111.45. Long a tad USDCHF but that may leave the boat soon as EURCHF seems to have found resistance. Short EURNOK for 9.63 fist tgt.
-Bought USDJPY yesterday due to pa not going back sub 110.90, risk holding up and the presumes re-election of PM Abe at the help of the LDP pushing for reforms and more spending on defense etc. It’s a thought in process but it may become a medium term position.
-Investors seem less worried on the prospect of an additional 10% tariffs on 200bln$ Chinese goods. Studies are showing it’d shave off 0.4% of global growth. Let’s see what happens if and when announced though. This market turns in a flash. It’ll be the next risk barometer. If it holds, JPY and CHF crosses could see their next leg up.
-GBP and EUR benefiting from Brexit negotiations kept alive. 1.1595-1.1645 I’m watching for holds/breaks. GBPUSD 1.3040-1.3105.
-EURNOK trapped between some bids sub 9.70 and the first resistance in the 9.73s. Holding the shorts.
EEF starts in Russia today, more Nafta talks(Mexico seems ok to go bilateral if Canada talks fail), and we may still hear from US-EU and Trump on China. Italy’s budget is never far either, watch for headlines.
Stay safe ad happy hunting