Pre-Market Brief

Good morning. US equity futures are moderately lower, sp -7pts, we're set to open at 2020. The USD continues to price in the notion of fewer rate hikes, -1.2% in the DXY 94.70s. Gold is naturally higher, +$5. Oil is +1.2%, testing the $40 threshold.


sp'60min

Summary

Overnight futures were sp +11pts or so.... close to the gap zone of 2038/43.

**Norwegian central bank cut rates by 25bps to 0.5%. Clearly, everything is fine there too.

**BoE hold rates at 0.5%, but clearly, NIRP looks inevitable in the UK, as they will try to keep the property bubble intact.
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Can we still make it to the 2038/43 zone today? Clearly its still within range, but with each passing hour, its going to be more difficult.

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Update from Oscar



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Overnight action

Japan: sig' gains vapourised into the close, settling -0.2% @ 16936
China: +1.2% @ 2904. Strong resistance @ 3k
Germany: currently -1.8% @ 9807. 10K is starting to fade away.
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Have a good Thursday
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8.30am. notable weakness, DB, -4% @ $18.60...... seemingly maxed out... and headed a long ways lower.

weekly jobs: 265k.
phil' fed: +12.4.. vs prev' -2.8