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Antipodeans, Scandis on top as risk...........>

FOREX
FOREX: Antipodeans, Scandis on top as risk recovers
-Equity markets in Europe and equity futures in the US perform well Monday
morning, helping press JPY and CHF to the bottom of the G10 FX pile. Italy, in
particular, is surging, with the FTSE-MIB up as much as 3% at some points of the
session as reports suggest the country's government are studying a lower deficit
goal after recent discussions with the EU. Despite this, the EUR sits broadly
mid-table, with gains in AUD, NZD, NOK and SEK countering single currency
strength.
-AUD/USD recovered back above the 100-dma, with NZD/USD also erasing some recent
weakness after the pair failed to break through the 200-dma on the rally since
early November. Antipodeans are further supported by a recovering commodities
bloc, with WTI and Brent crude oil up as much as 2% apiece. This has further
supported NOK, pulling USD/NOK back from the 18-month highs printed Friday.
-Attention turns to Chicago and Dallas Fed National Activity Index and speeches
from ECB's Draghi, Coeure, Nowotny and the BoE governor Carney. Former Fed chair
Alan Greenspan appears alongside the BoE Governor today.

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