Halister News

(Bloomberg) -- JPY whipsaws ahead of a possible OPEC agreement to reduce crude oil output and a TV debate between U.S. presidential candidates Clinton and Trump. NZD drops, eyeing stop-loss orders, after exports fall to 3-year low.

• Saudi Arabia is willing to act on ‘critical’ oil market, Algeria says
  • WTI crude +0.6%; Brent crude +0.7%
• U.S. election risk isn’t priced in as uncertainty rises; story here
• USD/JPY -0.03% at 100.99, vs 100.71-101.15 range
  • FX pair pared early losses spurred by intraday investors positioning themselves short USD/JPY in anticipation of spot selling over Tokyo yen fixing, according to FX trader
  • Sakakibara says yen may gradually gain to 90, and Japan should consult with U.S. if yen climbs to 80 per USD
• NZD/USD -0.11% at 0.7234, vs 0.7222-0.7251 range
  • New Zealand’s exports fall to three-year low, with milk powder exports falling to 7-year low
  • FX pair’s sell-stops for momentum accounts under 0.7220, according to FX trader
  • Kiwi testing support near its 50-DMA at 0.7228; chart here
• BBDXY +0.01% at 1,185.97, vs 1,184.09-1,186.18 range
  • 10-year Treasury yield at 1.615% vs 1.620% on Sept. 23

• NOTE: Mark Cranfield is an FX strategist who writes for First Word. The observations he makes are his own and are not intended as investment advice.