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Markets pick up where they left off,..........>

FOREX
FOREX: Markets pick up where they left off, keeping risk appetite at bay
-Weekend newsflow did little to assuage trade concerns as tensions continue to
run high between the US and China, with little sign that either side will climb
down anytime soon. As such, markets have picked up where they left off, with
trader happy to sell equities, commodities and high beta FX in favour of bonds
and safe haven currencies. CHF is the best performer in G10 at present, although
AUD and NZD are not far behind. CAD sits at the bottom of the pack, along with
the greenback. Final manufacturing PMI numbers from the Eurozone were
ineffectual, with most data coming in unrevised.
-TRY resumes its slide Monday as May CPI fell well below expectations, prompting
USD/TRY to climb back above the 50-dma at 5.8652, although Friday's highs are
yet to be troubled. 
-Attention turns to Canadian and US manufacturing PMI numbers as well as the
Manufacturing ISM print. Construction spending for April follows and speeches
are scheduled from Fed's Quarles, Barkin and Bullard. US President Trump begins
his visit to the UK.

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