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Yen May Fall as US, Japan Strike Deal Avoiding Auto Tariff Hike


By Ilya Spivak


The anti-risk Yen also rose as automakers led Japanese stocks lower in Asia Pacific trade, spooked by the prospect of US auto tariffs as negotiators from the two countries meet for talks. While trade war fears have focused on China, a rift between Washington and Tokyo may emerge as another critical flashpoint.


The sit-down may follow a familiar playbook. Auto tariffs are deeply unpopular domestically, making them toxic before midterm elections and leading President Trump to bargain them away in talks with the EU’s Jean-Claude Junker (as expected). Modest concessions from Japan may yield the same result.



USD/CAD Rate Forecast: Saudi Threat Brings Prospect of CAD Washout


By Tyler Yell


  • The ONE Thing: Saudi Arabia is dumping Canadian assets. The news comes ahead of a steadily weakening Canadian Dollar with oil weakening as well as Friday’s CA employment data. A miss in Canadian data could lead to broader CAD weakness.
  • Crude oil prices have fallen materially on the back of US EIA Inventory data showing a smaller decline than originally expected in stockpiles. The move to US$66.5 in WTI is the lowest price since late June and further harms the Canadian Terms of Trade.
  • Technical Outlook: USD/CAD support sits at C$1.2962 per USD. While the momentum on the US Dollar has cooled, the environment favors further USD/CAD gains than losses. A break below C$1.2962 would favor a behavior shift in the market away from a USD-long bias theme prominent since February against CAD and to a USD-long reduction mode.



Turkish lira hits record low as Turkey-U.S. concerns weigh


By Reuters Staff


The Turkish lira touched a fresh record low against the dollar on Thursday, weakening some 2.5 percent from Wednesday’s close after a Turkish delegation met U.S. officials to try to resolve disputes between the two NATO allies.


The lira has lost nearly a third of its value this year, fuelled by concerns over President Tayyip Erdogan’s grip on monetary policy and, more recently, a widening rift between Turkey and the United States.



Netflix Breakout May Boost Stock 11% Short Term


By Michael Kramer


Netflix Inc.’s (NFLX) stock has fallen by 17% since reporting disappointing second-quarter results. But an analysis of its technical chart is now suggesting shares may rebound by roughly 11% from its current price of approximately $348.


Now shares of the stock are breaking out, with the price rising above a downtrend that has been in place since peaking around $420 in the middle of July. That means shares could increase back to a technical resistance level around $396 from their current price, a jump of more than 11%. Should the stock rise to that price, it would also refill a gap created when the stock fell sharply after the second-quarter results when it plunged to as low as $344.



GBPUSD Analysis: Dip Buyers Seen at Multi-Month Sterling Lows


By Nick Cawley


GBPUSD bulls are currently in control of the market and pushing the pair back up to short-term resistance levels after weeks of selling. GBPUSD yesterday hit a near one-year low of 1.2842 but then bounced higher after a report in The Times hinted that the EU may shift its previously rigid stance on EU goods trade and freedom of movement. The Times report said that ‘European leaders are preparing to negotiate a deal that would let Britain remain in the single market for goods while opting out of free movement of people’. While this would still fall short of the UK’s Brexit demands, any easing of tensions would provide short-term relief for an increasingly weak Sterling complex.



FTSE drops as Russian sanctions jolt markets and commodities fall


By Helen Reid


Britain’s top share index fell on Thursday as fresh U.S. sanctions on Russia led to a selloff in commodities and several stocks went ex-dividend, while disappointing earnings sent travel operator TUI down 9 percent.


Oil and mining stocks across Europe tumbled on the fresh blow for commodities giant Russia, driving the FTSE 100.FTSE to fall 0.6 percent. #Oil majors BP and Shell also traded ex-dividend.


The FTSE 100 has remained resilient to mounting fears the UK may be heading for a no deal Brexit, driving sterling to its lowest against the dollar and euro in almost a year. FTSE 100 constituents mostly benefit from a weaker currency.



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