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Markets upbeat amid familiar themes...........>

FOREX
FOREX: Markets upbeat amid familiar themes
-Markets are modestly upbeat Monday, with global equities trading relatively
well. Core European bourses are up around 0.5% and US equity futures are
indicating a similar uptick at the open of this holiday-shortened week. In
currencies, this has flattered GBP, but GBP/USD looks capped under the $1.29
handle at present. JPY is the weakest, further supporting risk-on flows. USD/JPY
sits just below the 200-dma at Y108.95 - a break of which could further support
risk today.
-Scandi FX had a lively start, with markets following a technical break in SEK
as both EUR/SEK and USD/SEK cracked through rising trendlines. The currencies
look somewhat more settled ahead of the NY crossover, however.
-Liquidity and volumes will be light in the latter half of the week, with the US
closed for Thanksgiving Thursday and (partially) Friday. It's a particularly
quiet calendar today, with Canadian wholesale trade sales and Chicago Fed/Dallas
Fed activity indices the sole releases. The speaker schedule should elicit a
little more interest, with ECB's Holzmann, Lane, Mersch and de Cos all due.
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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