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Equities trade on the front foot

CROSS ASSET
  • Quick Equity tech.
  • Closest resistance is in Estoxx futures (VGM2), at 3756.00 (20d EMA)
  • USD continues to take its cue from the Risk On tone and unwind some of the early bid, but remains on the front foot against the Yen, following Kuroda earlier comment on a week Yen.
  • Best performers against the Yen in G10 are the SEK and the AUD, up 2.57% and 2.05% respectivelly.
  • The Aussie is benefiting from the risk on tone, and market participants are already looking towards the RBA rate decision next week.
  • Early median calls, are for a 40bps hike.

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