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OPEC deal cuts risk of surprise supply gain, excess stock draw - Goldman Sachs

According to Goldman Sachs, the OPEC deal has reduced the risk of both unexpected increases in supply as well as excess draws in stockpiles. 

Key points (Source - Bloomberg)

  • Reiterates view that long-dated implied volatility remains too rich.
  • Scope for even greater backwardation than we currently project through 2018 although with lower deferred prices.

USD/CHF refreshes session lows, around 0.9820 level

   •  Renewed USD weakness prompts fresh selling.     •  Swiss manufacturing PMI betters expectations.    •  Reviving safe-haven demand adds to the
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USD/JPY: Positive stance for the week ahead - Westpac

Robert Rennie, Research Analyst at Westpac, explains that having been neutral for the last couple of weeks, they shift back to a positive stance for t
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