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MNI

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EUROZONE ISSUANCE

EGB Supply for W/C Jul 26

USDCAD TECHS

Pullback Considered Corrective

US TSYS SUMMARY

What a Short, Strange Trip It's Been

GLOBAL POLITICAL RISK

Pfizer, Moderna Jabs Retain High Trust; AZ, Sputnik Lower

AUDUSD TECHS

Trend Indicators Remain Bearish

FOREX
FOREX: Markets have been trying to digest yesterday's news that the text for a
Brexit deal has been agreed and Italy made no changes to its growth forecasts
when re-submitting its budget. After rallying at the beginning of the Asian
session, GBPUSD has been drifting lower in Europe and is now flat on the day.
- Against this backdrop, we have also seen a slew of data released this morning.
The highlight surprise was in the Swedish CPI data, which came in lower than
expected and saw expectations of a December rate hike pared back, driving EURSEK
higher. EURSEK is holding below 10.30 for now, with a close below here keeping
the bearish trend intact.
- In Europe, the negative growth story continues, with German and Dutch GDP both
surprising to the downside. German GDP contracted by 0.2% in Q3 and the Eurozone
aggregate number fell to 0.2%, the weakest since Q2-2014. The euro has also
drifted lower through the day.
- Elsewhere, the NZD is the top performing G10 currency today, with AUDNZD
having fallen through key support at 1.0650 and the cross now trades at its
lowest level since April.