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US TSYS/SUPPLY

7Y Auction ​Review: Small Stop

US TSYS/SUPPLY

WI 7Y

EURUSD TECHS

Clears Key Support And Resumes Its Major Downtrend

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FOREX
FOREX: JPY has best session in months as US recession warnings flash
-Among G10 FX, JPY peeled away from the rest and took out key support on the way
through Y108. Risk appetite took a hit on a few fronts Thursday, with the
initial leg lower provided by a pessimistic Bloomberg report that cited sources
in saying that China are said to doubt that a long-term trade deal would be
possible with President Trump. This helped boost JPY and CHF while weighing on
equities.
-This was shortly followed by a particularly poor MNI Chicago PMI, which fell to
the lowest levels since December 2015 in the latest sign that the US economy
could be stalling headed into a Presidential election year.
-At the other end of the table, AUD was the worst performer, which fell against
all others in G10 on renewed risk aversion and took out yesterday's highs in the
process.
-UK manufacturing PMI and the October US jobs report are the data highlights
Friday. Fed's Clarida, Kaplan, Quarles, Daly and Williams are also all due to
speak.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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