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-Haven FX, but most notably the JPY,..........>

FOREX
FOREX: -Haven FX, but most notably the JPY, outperformed Friday as risk
sentiment soured further. Twin catalysts of further touted risk parity selling
and renewed expectations of a prolonged government shutdown over border wall
funding sent stocks lower from the open. Quadruple witching also heightened
volatility throughout, with the VIX holding near multi-month highs. The
NASDAQ-100 joined the Russell 2000 and the NASDAQ Composite in bear market
territory, helping press USD/JPY to once again test the 200-dma at Y110.92.
-Slipping equities and further stagnation in commodities prices has rubbed off
poorly on antipodeans, with AUD and NZD both markedly lower alongside NOK.
NZD/USD looks to confirm a close below the 50-dma, which would be the first
break-and-close below since mid-October.
-Volumes and liquidity are likely to dry up over the coming week with regional
holidays across the globe. Nonetheless, markets will eye German CPI, US MNI
Chicago PMI, trade balance for November and pending home sales. BoJ's Kuroda is
also due to speak on Wednesday.

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