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German structures

US EURODLR OPTIONS

BLOCK, Green Dec Package

US TSY FLOWS

Modest Bounce Off Lows

BOE APF PURCHASES

GBP1.147bln of short-dated gilts with offer-to-cover of 1.67x

SEK

EURSEK is now down 1.14%

DOLLAR
DOLLAR: Risk improved yesterday following Washington's announcement to delay
some additional tariffs on Chinese imports. Stocks rallied across the board with
the firmer tone spilling over into Asia.
- The DXY formed a base around the 100-dma (97.36), before squeezing back above
97.80. Consolidation has largely remained the theme through Asia and holds
toward the peak of its 97.73-84 range. Expect resistance on approach to the
98.00 level which holds the 50% retracement level of 98.93-97.03.
- Improved risk saw gold retreat $55 off its multi-year high ($1535.11), before
basing at $1480.00. The yellow metal has since recovered to hold $5 either side
of the $1500 handle. Support comes in today at $1468.40 which represents the 50%
retracement of the August rally.
- WTI & Brent spiked +$3 but failed to challenge early August highs, last
$56.40/$60.74.
- Quiet on the US calendar today with import/export data due at 1230GMT. US
import prices declined by 0.9% in June which is the first monthly decrease since
December 2018.