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AUSSIE 10-YEAR TECHS

(Z1) Shallow Bounce

USDCAD TECHS

Trend Needle Still Points North

WHITE HOUSE

Biden Losing Support On COVID-19 Strategy: Poll

AUDUSD TECHS

Slide Accelerates

LATAM

Snapshot: USDMXN Set To Post Highest 2021 Close

EURJPY TECHS

Still Looking For Weakness

CABLE
CABLE: Rate remains under pressure as has been the case since this morning's
deluge of source comments in which wires cited the seemingly explosive call
between PM Johnson and German Chancellor Merkel, in which both sides effectively
ruled out the possibility of a deal this October on current terms.
-Interestingly, there's been no meaningful pick in downside protection demand in
GBP/USD via options, with today's put/call ratio actually edging slightly in
favour of call notional. This is thanks in part to a large 1.25/1.27 Gbp200mln
call spread that crossed in early US hours and due to roll-off on 1st November -
the day after the current Brexit deadline of Oct31. The trade would break even
on a move above approximately $1.2565.
-At the 10am NY cut on November 1st, the expiry schedule is getting considerably
busier, with large expiries building at $1.27 (Gbp1.2bln), $1.29 (Gbp1.6bln) and
$1.3150 (Gbp1.6bln) - all of which are call option expiries.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com