No relief - Another session of equity.........>

FOREX: No relief

- Another session of equity selling has kept a lid on sentiment once more, with

Asia-Pac trade subdued as Japan's Nikkei 225 sank another 2%. Stock markets in

Europe have followed suit, with Eurostoxx futures again flirting with market

correction.

- Coronavirus cases appear to have stabilised further within China, but sharp

growth in cases in South Korea, Italy and Japan are still a cause for concern.

The USD has been sold from the off, allowing the EUR/USD recovery to continue.

This has raised further suspicions of carry trade unwind, as long EUR-funded

EMFX trades are closed/stopped out.

- Sterling sank further Thursday as the UK released their negotiating mandate

for talks with the EU and that the UK could decide by June whether a deal is

possible at all ahead of Dec31. This would mean markets know sooner than

expected if the UK will roll on WTO trade terms at the end of 2020.

- US GDP and weekly jobless claims data crosses today as well as speeches from

BoE's Cunliffe, ECB's Lane and Fed's Evans among others.