FX

AUD/USD bulls in charge despite woes n the horizon for AUD. Fed takeaways are balanced but central bank divergence is bearish for AUD/USD. AUD amongst commodity-fx underperformed, reflecting the concerns around the Sydney lockdown and the implications this will have for next week’s RBA meeting.  However, vs the greenback, it rallied all the way to
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USD/JPY pares all the previous day’s gain on Thursday. More downside for the pair on the cards, if price breaches the Head & Shoulder formation neckline. Momentum Oscillators warn caution for any aggressive directional bets. USD/JPY remains under pressure in the European trading hours. The pair hinges near the daily support level of around 109.70.
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In light of the recent price action, USD/CHF could slip back to the 0.9117 level, suggests Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. Key Quotes “USD/CHF has failed at the 4-month downtrend at .9219 and is under pressure near term. We would allow for slippage back to the .9117 recent low and
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Economist at UOB Group Barnabas Gan assesses the latest industrial/manufacturing figures in Singapore. Key Takeaways “Singapore’s industrial production rose 27.5% y/y (-3.0% m/m sa) in June 2021, in line with our expectations for a 27.4% y/y expansion. This is the fastest growth since November 2010 (+41.2% y/y, +1.5% m/m sa).” “Manufacturing growth in the second
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What you need to know on Tuesday, July 27: The greenback lost some ground on Monday but held within familiar levels against major rivals. It got to recover ahead of Wall Street’s close, as the US indexes reverted early losses and settled at fresh all-time highs. The EUR/USD pair topped 1.1816, ending the day around
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A combination of factors exerted some pressure on GBP/USD for the second straight day. A subdued USD price action extended some support and limited losses, at least for now. The GBP/USD pair remained on the defensive heading into the European session and was last seen hovering near daily lows, around the 1.3740-35 region. The pair
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GBP/USD pares intraday losses, down little around mid-1.3700s GBP/USD attracted some dip-buying on Friday amid a subdued USD price action. The risk-on impulse in the markets acted as a headwind for the safe-haven USD. Rallying US bond yields underpinned the USD and capped the upside for the pair. The GBP/USD pair remained on the defensive
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German Manufacturing PMI arrives at 65.6 in July vs. 64.2 expected. Services PMI in Germany expands to 62.2 in July vs. 59.1 expected. EUR/USD keeps its range around 1.1770 on upbeat German PMIs. The German manufacturing sector extends its expansionary mode into July, the preliminary manufacturing activity report from IHS/Markit research showed this Wednesday. The Manufacturing
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What you need to know on Friday, July 23: The greenback ended Thursday mostly lower across the FX board, although higher against the EUR. The ECB was the main event of the day. As widely anticipated, the central bank decided to leave the interest rates on the main refinancing operations, the marginal lending facility and
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