Collinson FX Market Commentary - Nov 17 - The focus stays on Paris.
by Collinson FX on 17 Nov 2015
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Nov 17 - The G20 rolled on in Turkey, dominated by the Paris Terror attacks, overwhelming the planned focus of tax, climate and the economy. Russia appears to the focus of high level meetings and compromises are on the horizon.
The lesser of two evils!? Putin has placed himself in the drivers seat and his ability to act, rather than articulate, forces him into any solution. U.S. Equities rallied, as did the Dollar and oil, with traditional safety flows. The EUR slipped below 1.0700, while the GBP trades around 1.5200, as EU CPI remains non-existent reflecting the lack of real economic growth.
Japanese GDP contracted further than expected, living in the negative neighborhood, dampening commodity demand. The AUD slipped below 0.7100, while the NZD has given up the battle with 0.6500, with Services PMI disappointing. Markets are dominated by geopolitical events and monetary policy.
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