FX

Asian markets remain track their global counterparts as Treasury yields remain firmer ex-China. PBOC’s readiness to defend the world’s second-largest economy keeps buyers hopeful. Australia witnesses record virus-led deaths, New Zealand pushes back border reopening. Tokyo and the other 12 prefectures are up for quasi-emergency, geopolitics also plays their roles. Asian shares print losses, just
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The shared currency edges lower during the New York session by 0.14%. EUR/GBP Technical Outlook: Downward biased, but a break under the 0.8300 figure, would push the pair towards lower prices. The EUR/GBP slide for the second time of the week, though, remains trapped in the 0.8320-65 range for the sixth consecutive day. The EUR/GBP
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EUR/USD has stabilised just above 1.1400, having dropped back from earlier session highs in the 1.1480s. Technicians will be eyeing a key level of support in the 1.1380 area. EUR/USD selling has continued into the US trading session, though the bearish intra-day momentum has for the moment eased with the pair finding support above the
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Analysts at Wells Fargo maintain their view for a broadly stronger US dollar over the course of 2022 and into 2023. They consider a more hawkish Federal Reserve should result in capital flows toward the greenback, pushing it to the upside against most G10 and emerging market currencies. Key Quotes:  “We expect the greenback to
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With China facing an uphill battle to contain the rapid spread of the highly-contagious Omicron covid variant, Goldman Sachs economists, including Chief China economist Hui Shan, lowered their 2022 GDP growth projection for the dragon nation. Key highlights (via Bloomberg) “Goldman Sachs Group Inc. cut its forecast for China’s economic growth this year to 4.3%.”
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USD/TRY posts modest gains and eyes a test of 14.0000. The pair looks side-lined between 13.00 and 14.00 so far. Turkey’s Unemployment Rate remained at 11.2% in November. The Turkish lira depreciates further and pushes USD/TRY back to the proximity of the 14.00 hurdle at the beginning of the trading week. USD/TRY stays capped by
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