Leading into a shortened equity trading session,most markets are favouring a slight risk on bias as the Nikkei jumps to afresh high. FX is quiet, with daily returns relatively small and favouring astronger USD. The PBoC injected CNY29bn (nearly $5bn), cuting 7‐day repo rates in half and easing fears. Data today includes durablegoods and new home sales. We expect a liquidity reduced and quiettrading session.
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Scotiabank