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CHINA RATES

China Repo Rates Rise Friday

FOREX

Mild Risk Aversion Emerges

CNY

J.P.Morgan: A Delayed End To CNY Strength

BOJ

BoJ Makes Rinban Purchase Offers

FOREX
FOREX: Risk appetite gets a jolt on 'phase one' progress
-Reports suggesting a phase one deal between the US and China could be signed as
soon as this November's APEC summit helped underpin a decent dose of risk
appetite ahead of the close, which allowed the S&P500 to trade north of the
all-time high close printed at end-July. This prompted some outperformance in
commodity-tied and high beta FX, resulting in AUD sitting at the top of the
pile.
-A healthy move higher in the US yield curve helped spur USD buying, which
prompted the first print above the 100-dma in the USD index in two weeks. The
greenback move helped USD/JPY hit the best levels of the week Friday, despite
further reports suggesting the BoJ board will stand pat on policy next week and
favour stronger signalling instead.
-The FOMC rate decision takes focus next week, with the Fed coming under
increasing pressure to trim rates for a third consecutive meeting. The Bank of
Japan and Bank of Canada are also both due. German & French CPI and MNI Chicago
PMI & October ISM data are the data highlights.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com