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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

FOREX
FOREX: BAML note the recent risk rally is not sustainable ahead of short-term
risks.
- EM complacent before China-US trade talks.
- Short-term signals support USD against NZD, AUD & CAD. Our technically bullish
medium-term USD view set to resume.
- Our bullish EM call for the start of 2019 has become consensus and it is time
to hedge. Market complacent about CNY risks.