Turkey: Officials have taken steps to make it more difficult and more expensive to short the lira, but that did not prevent a 5% slide ahead of the weekend. There is no interest rate, within reason, that can compensate for such currency risk. When S&P cut its sovereign credit rating to B+ from BB-…

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Average property asking prices dropped by more than £7,000 in August as more sellers came to the market, new data have shown. The 2.3 per cent fall from July leaves the average asking price at £301,973, according to property website Rightmove. Asking prices typically fall in August as more sellers…

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Markets rejoiced as trade war fears ebbed, the S&P 500 and Australian Dollar rose. Canadian CPI beat expectations, sending USD/CAD prices lower and closer to the February trend line.

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Martin Enlund and Andreas Steno Larsen, analysts at Nordea offered some FX quickies for those of a tactical persuasion. Key Quotes: "EUR/USD: still slightly downwards biased, with resistance on the upside around 1.1448." "EUR/NOK: rising liquidity a seasonal problem for the NOK even as a first rate hike beckons. Shorts should stay away until mid-September. […]

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The open this week is subdued, ranges 12 pips at the most in the case of cable.  We are lacking price action catalysts on the calendar, leaving us to look at what has occurred from Friday's close and a browse over the weekend.  Markets found further solace on headlines that the US and China as […]

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Kevin Spacey’s new film Billionaire Boys Club made a pitiful £98 on its opening day in cinemas, according to reports. The movie was the last project he filmed before being accused of sexual assault by dozens of young men in the US and the UK since the 80s. The crime drama, also starring Ansel Elgort…

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Analysts at Westpac, in a market wrap, noted that after lukewarm trade in Europe, risk appetite improved in the NY session, with optimism rising over US-China talks, including a possible Xi-Trump summit in November.  Key Quotes: "AUD/USD bounced to 0.7315. Today's calendar is light, as it is for much of the week, ahead of the […]

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Analysts at ANZ offered a market wrap. Key Quotes: "Global equities were mixed with treasury yields down a couple of basis points and the USD weaker across the G10. Commodities were up a small amount. European bourses closed within 0.2% of Thursday with a late-day rally erasing most intraday losses. US stocks opened lower, but […]

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