Morning Call: Another nervous session as equities wilt
Senior Editor, Saxo Bank
Summary: Today's edition of the Saxo Morning Call features Saxo Bank Head of Forex Strategy John J Hardy on the state of the world's markets as equities continue to weaken and worries about Brexit and the Italian budget undermine forex risk appetite.
FX Update: Ugly flash EU PMI’s pressure EUR
EURUSD languishing below the pivotal 1.1000 area and the greenback is generally bid after September flash PMI’s in Europe suggest a bad situation is getting worse, led by German manufacturing. The risk remains of a broad USD break out to the upside until the Powell Fed shows signs that it is getting ahead of the policy curve, something it has proven reluctant to do.
COT: Dollar long reaches June high
Commitments of Traders report covering speculative positioning in FX, bonds and stocks in the week to September 17.
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