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MNI EUROPEAN MARKETS ANALYSIS: Chinese Hope In The Driving Seat Into The Weekend

  • Tsys remain underpinned into London as Chinese & Hong Kong equities rally and the broader USD weakens. China re-opening speculation, signs of the potential for deepening of Sino-German economic ties and BBG source reports noting that “U.S. audit officials completed their first on-site inspection round of Chinese companies ahead of schedule” have all factored into price action.
  • Asia FX is mostly higher, led by CNH, which is up around 1% against the USD. THB has also rebounded strongly, while other pairs have recorded more modest gains. Firmer China/HK equities has fuelled broader gains in risk appetite throughout the region, with a number of positive afternoon headlines adding to the moves. For Monday next week, China October trade figures will be in focus, with Indonesia Q3 GDP also due. Thailand CPI is also due in the first part of next week (Mon-Wed).
  • Outside of the U.S. NFP report, focus turns to Canadian jobs data, German factory orders, as well as comments from ECB's Lagarde, Nagel & de Guindos, BoE's Pill & Fed's Collins.


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  • Tsys remain underpinned into London as Chinese & Hong Kong equities rally and the broader USD weakens. China re-opening speculation, signs of the potential for deepening of Sino-German economic ties and BBG source reports noting that “U.S. audit officials completed their first on-site inspection round of Chinese companies ahead of schedule” have all factored into price action.
  • Asia FX is mostly higher, led by CNH, which is up around 1% against the USD. THB has also rebounded strongly, while other pairs have recorded more modest gains. Firmer China/HK equities has fuelled broader gains in risk appetite throughout the region, with a number of positive afternoon headlines adding to the moves. For Monday next week, China October trade figures will be in focus, with Indonesia Q3 GDP also due. Thailand CPI is also due in the first part of next week (Mon-Wed).
  • Outside of the U.S. NFP report, focus turns to Canadian jobs data, German factory orders, as well as comments from ECB's Lagarde, Nagel & de Guindos, BoE's Pill & Fed's Collins.


Keep reading...Show less