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    NYLON HANDOVER: Euro prints new 7-month low

    EURUSD printed a fresh 7-month low as traders capitalise on the preferred diverging theme in Q4.




    OVERNIGHT:
    - Commodities felt the pinch from the latest stream of soft China data.
    - EURUSD printed a fresh 7-month low as traders capitalise on the preferred diverging theme in Q4. European stock are benefitting from an inverted relationship with Euro, as lower interest rates traditionally support stocks.
    - IEA (International Energy Agency) said Oil is unlikely to return to $80 per barrel by 2020, undermining an earlier comment by the OPEC minister that they expect demand to pick up by 2017. 
    - With ECB members back onto Greece then this theme may well return, as we see which reforms they have managed to push through (or not) to get vital aid needed to pay their debt workers. Overnight their inflation rate dropped -0.9% y/y and -0.1% m/m.
    - USD import prices declined for the 6th time this year and considered the earliest inflation data released by the government (so not ideal for inflation further down the line). 

    TODAY IN ASIA:
    - Chinese Industrial production is to be th ehighlight. However this too is expected to decline to its  lowest since 2009, painting further gloom for the globe ahead. Thinking out to next year it is hrad to fathom why FED are still considerg 4 rate rises next year when the world's second largest economy appears to be in decline. 
    - RBNZ released their financial stability report just minutes ago, citing "The increasingly stretched Auckland market is at risk of a damaging correction, especially if economic conditions deteriorate". So house prices to have a nasty shock next year?


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