1. Weekly Review and Outlook

2. Review of w/c 25 th January 2016

3. Outlook for w/c 1 st February 2016

4. Euro – Portugal; Greece; Spain; more QE? (again); Brexit; migrants; ISIS; Russia + Turkey UK – rate rise; Brexit = EZ disaster US – rate rise trajectory; Nov 2016 election, Primary season OPEC – war on US shale, Iran re-entry China slow down Japan – negative interest rates, more QE? Emerging Markets USD debt Global Macro

5. 3.1. USD strength + 4. Euro weakness – sell EURUSD 2. Sentiment – exit JPY (USDJPY long) 3.2. USD strength vs EM weakness Trade Opportunities 1. Oil - buy USDCAD from lows. 5. GBP weakness - watch