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EQUITY TECHS

E-MINI S&P (Z1): Trades Above The 50-Day EMA

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Pullback Considered Corrective

EUROZONE ISSUANCE

EGB Supply For W/C Sep 20, 2021: Upcoming

-YEN: ANZ Go Long AUD/JPY

AUSSIE

ANZ go long AUD/JPY at Y76.27, with a target of Y78:40 and stop loss at Y75.40. They note that "after a couple of weeks of indecision, markets appear to be breaking more decisively in a risk-on fashion. There are two elements to this move:

  • The hope that President Trump will bless a strong stimulus bill from the Democrats, reducing the risk of a near-term fiscal cliff.
  • Polling and betting markets are pricing-in a blue wave in Washington, with both stronger growth, and lower geopolitical uncertainty the likely result.
  • Uncertainty remains high, so the risk around these events is relatively elevated. However, a number of our indicators suggest that market pricing is not too extended, with conservative growth outcomes still in the price and a strong upside possible should events unfold as the market hopes."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com