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GVI Forex john   10:13:19 GMT - 11/21/2014  

21 November--  10:00 GMT- Current Market Conditions
ECB President Draghi reiterated today  that the Central bank is prepared to take action as needed. His supportive words have markets heading into the weekend in a MIXED RISK posture with equity values generally higher, but bond yields broadly lower.. Normally  the two have an inverse relationship since the two compete with one another for investor demand. Canadian CPI figures are the only key data today. ECB President Draghi reiterated that the Central bank is prepared to take action as needed.
  • In the Far East, equities ended mostly higher.10-yr JGB yields fell. 
  • European bourses are broadly higher at this hour. 10-yr bund and UK Gilt yields are lower. European peripheral bond yields are mixed to higher.
  • The U.S 10-yr note yield is down. U.S. share futures are up.

The heat map color scheme of interest rates reflects yields.

london red  10:33:50 GMT - 11/21/2014  
china just cut rates

Paris ib  10:35:56 GMT - 11/21/2014  
Are the looking to devalue? Stocks are loving this. More records in the U.S., European stocks powering ahead.

Paris ib  10:38:08 GMT - 11/21/2014  
The China response to the Japanese devaluation. This isn't over.

GVI Forex 10:39:18 GMT - 11/21/2014  
Look at AUD teaction

Paris ib  10:41:18 GMT - 11/21/2014  
Yeah Australia has hitched it's wagon to China.

london red  10:41:53 GMT - 11/21/2014  
aussie short 55-60 stop over 80. if seen.
straight after draghi comments. a coincidence?

Paris ib  10:43:35 GMT - 11/21/2014  
No this looks a bit co-ordinated. I guess they would have know that Draghi would have been dovish. So maybe they picked their moment. Stocks are going to go ballistic. At least in the Euro Zone.

london red  10:48:36 GMT - 11/21/2014  
not sure they are working together, but seems china not too happy about them jawboning euro lower either.

Paris ib  10:50:58 GMT - 11/21/2014  
China is pegged to the USD. Unless they break their peg the drop in interest rates isn't going to achieve all that much if this is a currency war. I would think that the USD/JPY is their greatest concern. Draghi hasn't done or said much. And the EUR/USD is down a bit but off it's recent lows. The USD/JPY is at seven year highs or therabouts.

Paris ib  10:51:50 GMT - 11/21/2014  
U.S. Treasuries not liking this. Why?

london red  10:55:30 GMT - 11/21/2014  
aussie support 80/85 if cant hold then its all over.

HK Kevin  10:55:46 GMT - 11/21/2014  
China rate cute is a negative signal for AUD

Paris ib  10:57:48 GMT - 11/21/2014  
In the sense that if China is in trouble and needs to cut rates then Australia is in trouble. Agreed. But right now the market is expecting this rate cut in China to fix China. Ha ha.

london red  11:00:14 GMT - 11/21/2014  
and thats what makes a mkt folks!

london red  11:06:51 GMT - 11/21/2014  
paris, yes the yuan is pegged but any easing they do lifts other currencies. its stopped the rot for the euro and other as well. i dont think you can make a case for the yuan being overvalued, but they wont like depreciations elsewhere across the globe as you say.

dc CB  12:48:34 GMT - 11/21/2014  
Draggi doing the Chinese Two Step.

2100 by Dec 1


Mtl JP  13:04:51 GMT - 11/21/2014  
paper Gold above $1200 now

GVI Forex john   13:25:37 GMT - 11/21/2014  
10-yr 2.344% -1.2bp

SP Futures +18
DJ Futures +146

HK Kevin  16:33:25 GMT - 11/21/2014  
HK Kevin 10:55 GMT 11/21/2014
China rate cute is a negative signal for AUD
AUD under 0.8670 will see 0.8635 very fast. However, not much downside for the pair and may test 0.8760 next Mon.

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