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Nylon Handover: EUR, CAD and NZD under pressure from JPY

Whilst JPY continued to attract safe haven flows both CAD and NZD crosses were under further pressure following weak data. 





- Intervention in the Chinese markets has returned with the CSI 300 closed 0.3% in the black following Monday's historic 7% fall. 
- Oil markets remain under pressure with WTI suggesting a swing high has formed at $39 a barrel. On the cusp of confirming a triple top on H4, if successful, it could target the multi-year lows. 
- USDCAD saw an intraday multi-year high as it broke the 1.40 level, helped by weaker oil prices and soft data ovenight. Raw material prices and industrial product prices both contracted and missed expectations. Poloz is expected to speak later tonight and may prvide guidance on the anticipated rate cut by BoC. 
- Eurozone inflation remained steady at 0.2% growth but below the 0.3% expected. 
- Global dairy prices declined 1.6% to send NZDJPY lower for a second consecutive session, which is under further pressure due to global growth concerns and turmoil from Chinese stock markets. Currently down 3.1% for the week and at 8 week lows it appears to be getting ready for a run towards the 73 lows sooner than I had expected. 
- UK construction beat expectations and at a 2 month high. However any positive data is likely to be marred by the growing fear of 'Brexit' (Britain leaving the EU). - Intervention in the Chinese markets has returned with the CSI 300 closed 0.3% in the black following Monday's historic 7% fall. 




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