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Vitol Expects Product on Water Build from Sanctions


Expiries for Feb07 NY cut 1000ET (Source DTCC)

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The Antipodeans retain their softer feel,.....>

FOREX: The Antipodeans retain their softer feel, NZD being the worst G10
performer. NZD/USD managed to break under $0.630, which puts it on course
towards the YtD low of $0.6269, touched earlier this month. Conversely, EUR and
the Scandies are relatively solid. It is worth noting that G10 pairs have
generally respected fairly tight ranges.
- Little to no reaction noted as Japanese core CPI slowed to the expected pace
of +0.5% Y/Y from the previous +0.6%. On the news front, the launch of a
Saudi-led military action in Yemen has garnered some attention, but it's hard to
talk about any material response in the FX space. 
- Participants are on the lookout for the fixing of China's Loan Prime Rate
today. Canadian retail sales, EZ consumer confidence and German PPI provide the
data highlights. Fed's Williams, Rosengren and Kaplan, ECB's Visco and
Rimsevics, Norges Bank's Olsen and Riksbank's Jansson are due to speak.

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