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FED

Bank of America on FOMC: Hawkish Interpretation

BONDS

EGB/Gilt - Hawkish BoE stuns markets

PIPELINE

Egypt 3Pt Updated Guidance

DOLLAR
DOLLAR: The dollar witnessed a mixed session overnight, early fixing demand was
soon countered with most major FX currency pairs held to narrow ranges ahead of
Monday's holiday in Japan. The soft US CPI read pressured yesterday with the DXY
closing just above the 100-dma (94.48). Light volumes overnight has seen the
index tied to a 10 pip range, last at 94.50. A downside break of the 94.40/45
area changes the short-term outlook targeting 94.00 for the next leg lower. The
pullback in gold based ahead of $1200 yesterday, gains extended to $1205.89
through Asia. Quieter on the calendar today with US Retail Sales, Industrial
Production & Michigan Sentiment Index the highlights. Retail sales are forecast
to rise 0.4% in August after a surprise 0.5% gain in July. Industrial Production
is expected to rise 0.4% in August after a small gain in July. The Michigan
Sentiment Index is expected to rise to 96.7 in early-September from 96.2 in
August. The only notable option-expiry for today's NY cut - EURUSD
$1.1650-55(E1.24bn).