Daily Morning Call
From the Floor: Italy and Thanksgiving blunt performance – #SaxoStrats
746 views
The US holiday break and Sunday's Italian referendum have joined forces to push financial markets into a holding pattern and most currencies are moving sideways. Oil, meanwhile, remains elevated on hopes that broad production cuts will soon be announced.
· Oil market is getting excited by a potential 1.2m b/d cut – Hansen
· Iran and Iraq would need to join in with minimum 300,000 b/d – Hansen
· Russia may agree to a freeze, but not yet to a cut – Hansen
· The market is trying to put itself asleep ahead of Thanksgiving – Hardy
· Most currencies are going sideways though AUD is resurgent – Hardy
· FOMC minutes and Italian referendum are in focus – Hardy
· Latest opinion poll shows a 10 point lead to No in Italy – Garnry
· Bunds are strengthening ahead of Italy vote, ECB QE decision – Boye
· US and European government yields continue to diverge – Boye