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HUNGARY

‘Hawkish’ NBH Halts TRYHUF Momentum

US TSY OPTIONS

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EQUITIES

China Bounce Fades, Hang Seng Closes Lower

FOREX
FOREX: Tokyo holiday (Culture Day) and usual subdued pre NFP trade acted to keep
markets in Asia fairly subdued. Only highlight was release of weaker than
expected Australian Retail Sales which weighed on the Aud. Into Europe and tone
quickly changed to general Usd demand, position adjustments seen ahead of
today's key US NFP/AHE release at the earlier European time of 1230GMT. Market
median 312k though more interest may be in AHE, a strong number expected to
provide for a bigger surprise reaction. Excuse of hurricane effects if this
number comes in at or below expected level of 0.2%mm. Usd/Jpy extended its
recovery to Y114.14, while Eur/Usd was pressed back to $1.1640, from its earlier
Asian high of $1.1668. Cable extended its post BE MPC low to $1.3040(Thu low
$1.3043) but did meet willing buyers into the dips (real money suggested).
Release of stronger than forecast UK Services PMI allowed rate to post a fresh
intraday high of $1.3079(Asia $1.3077) but rate quickly settled back around
$1.3060. Eur/Gbp remained above Gbp0.8900. Canadian Jobs Report and trade, US
Traded data also in view at 1230GMT, followed by US Factory Orders, Durable
Goods at 1400GMT. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com