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US futures pare some losses ahead of the open later

20 Nov 2019

S&P 500 futures are ~7 points off the lows now
ForexLive
E-minis have pared about half their losses as we look towards the start of US trading. The overall risk mood remains more defensive and sour but all it takes is just one right headline and markets can easily switch things around.

US MBA mortgage applications w.e. 15 November -2.2% vs +9.6% prior

20 Nov 2019

Latest data from the Mortgage Bankers Association for the week ending 15 November 2019
- +9.6%
- Purchase index 270.4 vs 253.4 prior
- Market index 556.0 vs 568.4 prior

ForexLive European FX news wrap: Havens thrive on US-China trade worries

20 Nov 2019

Forex news from the European morning session - 20 November 2019
Headlines:
Markets:
- JPY leads, CAD lags on the day
- European equities lower; E-minis down 0.4%

Novak: Russia aims to reduce oil output to OPEC+ target in November

20 Nov 2019

It takes two hands to clap
report
ForexLive
Oil is keeping more steady on the day despite the more sour risk mood but the damage was already done yesterday as key levels are taken out:

ECB's Makhlouf says seeing protracted weakness in the Eurozone

20 Nov 2019

Comments by ECB governing council member, Gabriel Makhlouf
- Macroeconomic outlook is 'mixed'
- Endorses call for review of monetary policy strategy
ForexLive

European mid-morning: Dollar, yen keep firm on US-China tensions

20 Nov 2019

Risk-off flows see haven assets gain ground in European morning trade
ForexLive
Bonds are also staying more bid while equities are seeing red across the board so far in European trading. The risk mood remains more defensive with US-China tensions heightened amid some fighting words by China over the HK bill passed by the US Senate.

ECB's de Guindos: Tiering is partial remedy for impact of negative rates

20 Nov 2019

Comments by ECB vice president, Luis de Guindos
It's starting to sound a bit like the BOJ but if anything else, it goes to show that the ECB is in a bit of a mess right now as we are still awaiting Lagarde's first speech on policy since taking over as ECB president.

BofAML sees EUR/USD at 1.15 by the end of next year

20 Nov 2019

The firm argues that the US-China trade war is likely to remain a dominant driver in markets for 2020
For EUR/USD, they view the currency pair heading to 1.15 by the end of 2020 - though noting that upside risks remain for the dollar including an escalation in the trade war and a further weakening in

Cable falls below 1.29 as dollar stays firm on softer risk mood

20 Nov 2019

GBP/USD falls to a session low of 1.2888
ForexLive
The election debate between Johnson and Corbyn yesterday was practically anything but a "game changer". If anything else, Corbyn may take more heart out of it but I doubt it will lead to any significant movements in the opinion polls.

AUD/USD stays pressured on softer risk mood, what levels to watch out for?

20 Nov 2019

AUD/USD approaches a test of the 100-hour moving average
ForexLive
The pair is lingering at session lows of 0.6809 currently and is approaching a test of the 100-hour MA (red line) @ 0.6807. In overnight trading, buyers failed to firmly break above the 200-hour MA (blue line) and that is keeping sellers in the game.