FX

EUR/USD is trading in a tight range below 1.1450. Economists at OCBC bank expect the world’s most popular currency pair to test the 1.1480/1.1500 area. Support located at 1.1400 “The market’s attempt to price in more hawkish ECB expectations is making us more positive on the EUR in the medium term, and perhaps looking for
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WTI hit fresh seven-year highs at $93.00/barrel in recent trade as the recent melt-up accelerated. WTI is on course to post a seventh successive weekly gain during which time it has rallied over 30%. Oil bulls put their foot on the accelerator on Friday, driving prices to fresh seven-year highs and leaving major crude benchmarks
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On Friday, the official US employment report is due. Market consensus points to an increase of 150K in payrolls. Recent data, like the ADP report, warns about a negative reading. Analysts from TD Securities estimate a decline of 200K in jobs in January.  Key Quotes:  “Payrolls likely plunged in January, but only because of temporary
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Turkish Finance Minister Nureddin Nebati downplays expectations of further depreciation of the lira, in his latest interview with the Nikkei Asian Review. Additional quotes “Inflation to peak below 50% in April.” “2022 growth to be around 5%. “No substantial fx interventions since December 19.” Market reaction Despite the encouraging comments from the Turkish official, the
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AUD/USD stays firmer around weekly top during three-day uptrend. Sustained break of two-week-old descending trend line, bullish MACD signals favor buyers. 200-SMA, 61.8% Fibonacci retracement level will challenge bullish momentum. AUD/USD bulls attack key Fibonacci retracement level near the weekly top, up 0.12% intraday near 0.7135 heading into Wednesday’s European session. The Aussie pair’s latest
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AUD/USD bounces off 18-month low as traders brace for RBA amid quiet session. USD extends Friday’s pullback from July 2020 highs amid indecision over the pace of Fed’s rate hike in March. Bulls await clues for the RBA rate hike during 2022, Aussie Private Sector Credit rallied in December. NSW announced an AUD1bn package to
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