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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: JPY was the poorest performer in G10 on Thursday, falling against all
others, with USD/JPY closing above Y114.00. Japanese equities rallied sharply,
although European & U.S. markets were more inconsistent as traders largely sat
on the sidelines ahead of the FOMC decision.
- The FOMC left its MonPol settings unch with a 9-0 vote. The language around
business investment & unemployment was subject to some tweaks. This had little
impact on the DXY, which trades 1% or so off cycle highs.
- SEK was the strongest performer in European FX as Riksbank members turned
somewhat hawkish: Floden stated that the challenges to monetary policy have
diminished somewhat, raising exp. that the bank could hike rates as soon as Dec.
EUR/SEK broke firmly below the 200-DMA to touch the lowest levels since July.
- The latest bout of Brexit reports were played down by UK PM May's office, both
in EU hours and late Thursday.
- Focus Friday turns to UK trade balance, production & GDP numbers, U.S. PPI &
UoM sentiment, with the RBA set to release its SoMP. Fedspeak picks up Friday
with Williams, Harker & Quarles all due.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com