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Forex Flash: EUR/USD to remain top heavy ahead of EU Council - OCBC Bank

Emmanuel Ng of OCBC Bank notes that the pending EU Council meeting on Thursday and Friday is likely to keep EUR/USD top heavy , with the pair still loitering around the key 1.3050/60 mark, albeit with some slippage materialising.

Looking ahead, he sees support is expected towards 1.3000 and then 1.2920 while resistance is seen on the approach of 1.3100 and then at the 100 day MA (1.3128). Twisting to GBP/USD, he feels that the pound may continue to look towards next week's budget announcement for further cues while sustained expectations of a dovish BoE may work to keep GBP under the weather. He writes, “(The) next key intersection for the cable is expected towards 1.4800 while 1.5000 may also cap in the interim."

Forex Flash: Chinese regulator to tighten Local Gov financing vehicles - Nomura

Nomura economist Zhiwei Zhang notes that the China Banking Regulatory Commission (CBRC) is planning to tighten controls on lending to local government financing vehicles (LGFVs), reports the 21st Century Economic News today.
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Forex Flash: Empire state of Mind - Nomura

On his recent round of client visits to New York, Nomura strategist Saeed Amen has noted that many things have not changed over the previous year.
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