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Europe FX Handover – 8 April 2019

  • FX trade has been generally quiet amidst a dearth of new Brexit and US-China trade headlines.
  • The US dollar and euro were the strongest major currencies on the day; sterling was the weakest ahead of meetings between PM May and Labour party leaders.
  • Russia suggests that OPEC+ could raise oil output at its June meeting, though Saudi Arabia has indicated it is still trying to reduce inventories. Oil prices are nudging higher ahead of the US open, with the most recent COT report showing a healthy bullish trend in positioning.
  • The economic calendar is extraordinarily light at the start of the week, with no noteworthy releases until Wednesday.


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