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Awaiting the FOMC

CROSS ASSET
  • Multi Cross assets seems to now be in holding pattern, with the dust settling in FX and especially the Yen.
  • European and US Equities have now done very little in the past few hours, US Tnotes is back at its tight 6 big ticks mid range.
  • Bund has just recovered 18 ticks in over 2 hours, but remains some 13 ticks off its intraday high, with the 2.30% Yield level still holding for now.
  • The street is now clearly awaiting the FOMC and any potential hints for possible cuts in September.
  • Although before the meeting, US ADP and MNI Chicago PMI will be the initial focus.

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