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Market more settled ahead of wave of US.......>

FOREX
FOREX: Market more settled ahead of wave of US data
- After a volatile few days, markets appear more settled early Thursday, with
most major pairs respecting the week's ranges and awaiting further cues from the
deteriorating Sino-US relationship.
- The greenback is holding its ground so far today after selling off into the US
close Wednesday. Equities are generally stable, with European indices opening
slightly higher on the back of the decent Wall Street close, with European
government bond yield spreads a touch wider in response.
- HUF dropped sharply on news that the Hungarian CB deputy governor Nagy
resigned from the bank's vice governor position. Nagy was seen as one of the key
staff overseeing the NBH's expansionary monetary policy programme - some of the
uncertainty clearly being felt in the exchange rate today.
- Focus shifts to a deluge of US numbers, with prelim durable goods orders,
weekly jobless claims, pending home sales and the second reading of Q1 GDP all
on the docket. Fed's Williams and Harker are both due to speak.

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