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Forex Flash: Investors starting to shift to Stocks - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that it may be a testing day for Cable longs while the market tests the Yen range and waits for the Italian elections.

he notes that the US NAHB data yesterday may point to a flattening out of the recovery in US housing, which would be disappointing, which the equity markets subsequently ignored. Looking ahead he sees PPI and Housing Starts data today but ultimately, the bottom line as he sees it is that Treasury yields are too low and investors are shifting to equities. Juckes writes, “ The secret is that while bond bears are multiplying, and will have their day in the sun eventually, for now the 10yr Note yield is still holding well below 2pct. Low yields and hungry investors set the tone for global markets.”

UK Claimant Count Rate stays unchanged at 4.7% in Jan

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Forex Flash: FOMC expected to show now change - BTMU

Derek Halpenny, European Head of Global Market research at the Bank of Tokyo Mitsubishi UFJ comments that the FOMC minutes will be released tonight for the meeting on 29th-30th January.
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