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By: Stuart Cowell
Good Morning – Surprisingly good data from China (Manu PMIs) over the weekend and today Trade deal optimism & increased Cap-Ex. spending in Japan helps lift sentiment, but a big miss for Aussie Building approvals soared the tone. Weaker Yen & Stronger Kiwi & Aussie overnight
USDIndex – closed Friday down but up over 1.1% for the month at 98.15. The Q4 Dollar weakness is yet to materialize.
US Equities – on slipped Friday into 3140 at the close but gained over 105 pts (3.45%) in November for a third straight month of gains. All looks set for the Santa Rally.
EUR – holds over 1.1000 but capped by 200MA at 1.1025. PP 1.1010
JPY – holds up over R1 at 109.62, PP 109.50, S1 109.35
GBP – slips on the slip in Johnson opinion poll lead – down to 9% from 11% – but holds key 1.2900. Trades at PP at 1.2916 – R1 1.2950, S1 1.2885
AUD – again capped by 0.6775 resistance (R1) – pp 0.6765
NZD – continues to recover over R2 and 0.6450 at 0.6452
FUTS – recovered Friday’s losses and over 3150 – 3 pts shy of last weeks all-time high.
GOLD – continued to weaken under 200 ma & PP at 1460 – trades at 1459 – S1 1455.
USOil – Recovers a third of Friday’s losses up from $55.00 to PP at $56.20. (OPEC meet Thursday – production cuts still expected (and priced in) but Russia and other non-OPEC suppliers looking to expand production.
TODAY – EUR & GBP manufacturing PMI’s this morning – USD & CAD manu PMi’s this PM. – plus speech from Ms. Lagarde.
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