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Risk tilted to the downside ahead of the ECB

MARKET TALK

Not in big volumes, but better Equity selling has been favoured this morning, and likely some positioning/squaring ahead of the ECB.

  • Bund remains underpinned, and the curve is slightly tilting bull flatter, albeit within past range.
  • In FX: Broader base EUR buying is going through, all in small, with the currency testing best level of the session versus CAD, AUD, NOK, SEK, CNH, and TRY.
  • EUR is up against all major, beside risk tied CHF.

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