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AUSSIE BONDS

Flattening Extends

JPY

Liquidity Sapped By Local Holiday

AUD

AUD Edges Lower After Volatile Wednesday

JGB TECHS

(Z1) Bearish Trend Condition

AUSSIE BONDS

U.S. Tsys Help Futures To Twist Flatten Overnight

US TSYS

Post-FOMC Twist Flattening

EURO-DOLLAR
EURO-DOLLAR: *Correct* (change Thursday to yesterday)
EUR/USD continues to soften and last deals at intraday lows of $1.1436, 38 pips
lower on the day, with EUR currently at the bottom of the G10 pile. This occurs
as Brexit impasse & the "yellow vests" protest in France persist, although there
was seemingly little in the way of headline flow to drive the move lower in the
rate.
- Yesterday saw the Italian gov't approve a decree with the goal of shoring up
Banca Carige, offering the lender access to several state-support options,
including recapitalisation.
- The pair failed to hold above the 100-DMA, and bears now eye yesterday's low
at $1.1389 and a fall through that level would set them to target the
55-DMA/50-DMA at $1.1374. On the topside, initial resistance is located at the
100-DMA of $1.1479, followed closely by $1.1486, which represents the Dec20 high
& the upper Bollinger Band (2%). The next resistance level above is located at
the Nov 7 high at $1.1500.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com