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Markets tread water, wary of G20 headlines....>

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FOREX: Markets tread water, wary of G20 headlines
-With world leaders headed to Buenos Aires, Argentina to discuss all things
trade, currency markets are largely treading water, but remain wary of headline
risk with US President Trump already pressing send on several tweets. Market
focus largely remains on the Xi-Trump dinner due to be held Saturday. While no
joint statement is expected, many markets expect positive noises on trade
tensions to emerge over the weekend.
-NOK is the poorest performer in G10 so far, with slightly lower than expected
retail sales numbers hurting the currency - October retail sales fell by 0.2%
vs. expected flat.
-GBP underperforms slightly on little news, with GBP/USD nearing yesterday's
lows on order-driven price action. Markets clearly remain wary of the risk of
further ministers coming out against May's proposed withdrawal deal with over
100 having already done so.
-Italian GDP is due this morning ahead of Canadian GDP for September and the US
Chicago PMI report. ECB's Coeure and Fed's Williams are also 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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