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USD: Time to embrace the serenity offered by the US holiday season - ING

With US markets on Thanksgiving holiday from Thursday and little data catalysts in the G10 calendar, global markets may take a leaf out of the mindfulness playbook this week and embrace the relative serenity here and now – as opposed to anxiously looking ahead to what could be a turbulent end to the year, according to Viraj Patel at Foreign Exchange Strategist at ING.

Key Quotes

“Admittedly, a sense of nervousness continues to brew amongst investors amid a flurry of profit-taking activity, rising US political risks and concerns over central bank policy mistakes.”

“On the latter, the FOMC minutes (Wed) will continue to allude to diverging views within the committee and is unlikely inspire much upside in US rates or the USD this week. Nonetheless, we expect the markets’ Fed-obsession to come to a halt in 2018 as monetary policy re-pricing opportunities look to be greater elsewhere.”

Emerging Markets: Steady growth masks mixed trends in different markets - NAB

Industrial production and export volumes provide a timely indication of economic activity in emerging market economies, according to analysts at NAB.
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Germany's 10-year Bund yield falls to 1-1/2 week low on haven demand

Following the collapse of the coalition talks, German Chancellor Merkel is left with two options - form a minority government or opt for re-elections.
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