It's been an absolutely stellar year for equities worldwide but we shouldn't expect a repeat performance in 2018. In FX, the year is coming to a slow close with just slight movements in most major pairs.

• All-Country World Index equities up 30% in 2017
• Cyclical correction of 7% to 10% for equities due in Q1
• Catalan win for separatists is just noise for now
• Euro had a brief and shallow dip on Catalan vote