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  • AUD/USD sellers attack yearly bottom surrounding 0.7100 in a fresh wave of selling ahead of Tuesday’s European session. The latest fall in Aussie prices could be linked from the markets fears that the global medicine suppliers will lack strength to overcome the Omicron-led virus woes.

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  • GBP/JPY takes offers around 150.55, the lowest levels since October 04, during early Tuesday morning in Europe. In doing so, the cross-currency pair not only reverses the previous day’s corrective pullback but also braces for the biggest monthly fall since September 2020.

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  • USD/ZAR stays firmer around $16.20, despite the recent pullback from intraday high, amid early Tuesday morning in Europe. In doing so, the South African currency (ZAR) remains on the back foot around the lowest levels in a year

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  • One-month risk reversal on USD/CAD, a measure of the spread between call and put prices, dropped to the lowest levels since November 04 on Monday, per Reuters.

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  • USD/INR remains on the back foot around 74.85, down 0.20% intraday during early Monday morning in Europe. The Indian rupee (INR) pair poked the monthly high the previous day while posting the heaviest daily jump since June 17.

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  • USD/TRY remains range-bound near $12.40 heading into Monday’s European session. The Turkish lira (TRY) pair snapped a two-day downtrend the previous day while staying past a weekly ascending support line.

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  • EUR/GBP takes offers to refreshes intraday low near 0.8455, down 0.23% intraday ahead of Monday’s London open. The cross-currency pair jumped the most since early November the previous day amid grim concerns over the South African variant of the coronavirus.

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  • “While we expected USD/MYR to strengthen last week, we were of the view that ‘the prospect for a break of Sep’s high at 4.1990 is not high’. We clearly underestimated USD/MYR strength as it not only cracked 4.1990 but also rose above the Aug’s top of 4.2430 (high of 4.2470 on Friday).”

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  • ​Cable has drifted below 1.33 on risk-off. Next support is seen at the 1.3250 level. Holding above here, GBP/USD could stage a short-term bounce, economists at Société Générale report. 1.3250 is next support “GBP/USD is in vicinity to the support of 1.3250 representing weekly Ichimoku cloud. Defending this can result in a short-term rebound.”

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  • 24-hour view: “We highlighted yesterday that USD ‘could break 6.4000’. However, USD traded in a quiet manner and within a narrow range of 6.3866/6.3964. The quiet price actions offer no fresh clues and USD could continue to trade sideways, likely between 6.3830 and 6.3970.”

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  • EUR/JPY extends the downside and revisits the 12800 region at the end of the week. The continuation of the downtrend remains in the pipeline and therefore another visit to the monthly low at 127.97

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  • GBP/USD seems to have gone into a consolidation phase below 1.3400 following a three-day decline. Economists at OCBC Bank expect the cable to find little support on its way to the 1.3150 level.

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  • USD/TRY bulls pause around all-time high, easing to $12.95 during early European morning on Wednesday. That said, mixed data from Turkey fails to renew the upside momentum amid cautious optimism in the market weighing on the US dollar bulls.

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  • USD/CAD is tracking the ongoing strength in the US dollar across its main competitors, consolidating near seven-week tops, starting out a fresh week on the right footing.

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  • USD/INR is building onto Friday’s recovery, as it heads towards 74.50 amid the recent strength in the US dollar across the board. The covid resurgence in Europe bolstered the dollar’s safe-haven appeal while expectations of hastened Fed’s tapering lifted the Treasury yields, adding further to the greenback’s upside.

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  • GBP/USD is attempting a tepid recovery towards 1.3450 heading into the European open, as the risk sentiment improves. However, the further upside appears elusive amid stronger US dollar and persistent Brexit worries.

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  • The AUD/USD pair edged higher heading into the European session and climbed back above mid-0.7300s, or a fresh daily top in the last hour. Having found some support near the 0.7325 area, the AUD/USD pair gained some positive traction on Monday 

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  • USD/INR takes offers to refresh intraday low around 74.40 ahead of Wednesday’s European session. In doing so, the Indian rupee (INR) pair reverses the previous day’s bounce off the 100-DMA below a downward sloping trend line from October 12.

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  • The USD/CAD pair continues to ride on the higher side for the second consecutive day on Wednesday. At the time of writing, the currency pair is firmly holding its ground above the 1.2570 level with a high of 1.2586 and a low of 1.2553.

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  • EUR/USD is struggling to extend the recovery from a new 16-month lows of 1.1264, currently battling 1.1300, as the US dollar clings onto the recent upside. However, retreating US Treasury yields offer some relief to the EUR bulls while oversold conditions on the daily technical chart also come to the rescue of the bullish traders.

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  • GBP/CAD stays firmer around 1.6875, keeping the previous day’s upside break of the key resistance ahead of Wednesday’s European session. In doing so, the cross-currency pair confirms the bullish formation called falling wedge amid the bullish MACD signals before the release of the UK’s Consumer Price Index (CPI).

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  • USD/CNH remains on the back foot around $6.3770, down for the fourth consecutive day on early Monday. The reason could be linked to upbeat China data and monetary injection from the People’s Bank of China (PBOC).

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  • The GBP/USD pair is trading around 1.3430 level during Asian hours on Monday, supporting last week's gains, as the investors look for signs of a Bank of England (BOE) rate hike.

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  • AUD/JPY is trading around 83.50 during the Asian session on Monday, as the gross domestic product (GDP) data of Japan's July-September quarter disappoints. Further, upbeat Chinese Retail Sales and Industrial Production data underpin the sentiment around the aussie. 

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  • The Turkish lira has plummeted to a record low of 9.9859 against the US dollar. Economists at Société Générale expect the pair to challenge the 10.00 psychological level as the Central Bank of the Republic of Turkey (CBRT) may deliver a 100bp rate cut next week.

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  • The GBP/JPY cross held on to its modest intraday gains through the first half of the European session, albeit lacked any follow-through buying and remained below the 153.00 mark.

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  • EUR/USD has retreated below 1.15 for the first time since July 2020. Economists at Société Générale expect the pair to extend its downtrend towards the next support at 1.1380.

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  • AUD/JPY portrays a 60-pip fall to mid-85.00s on the Reserve Bank of Australia’s (RBA) moves during early Tuesday.

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  • USD/CAD remains firmer around the day’s top of 1.2385, up 0.11% intraday ahead of the European session. That said, the quote remains inside a four-day-old symmetrical triangle by the press time of Tuesday.

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  • USD/CHF remains defensive around the lowest levels since early August, up 0.05% intraday near 0.9095, as European traders brace for Tuesday’s bell. The Swiss currency pair dropped heavily the previous day

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  • GBP/USD is under pressure below 1.3700, trying to find its feet after Friday’s severe blow. The bears retain control amid a broadly stronger US dollar and looming Brexit risks.

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  • EUR/USD remains sidelined around 1.1550, following the heaviest daily fall since mid-June, heading into Monday’s European session. Having witnessed the European Central Bank’s (ECB) failed attempt to hide hawkish intentions, the market turns towards the US Federal Reserve (Fed) with high hopes of tapering hints.

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  • USD/TRY traders struggle inside a one-week-old bullish chart formation during the pre-European session on Monday. The pair’s consolidation from record top takes clues from a downbeat Momentum line, flashing 0.10% intraday loss around $9.5970 by the press time.

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  • USD/IDR stays firmer around $14,240, recently easing to $14,235, ahead of Monday’s European session. The Indonesian rupiah (IDR) pair recently ignored firmer Indonesia numbers amid fears concerning China and economic growth at home.

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  • AUD rates continue to be in focus after the Reserve Bank of Australia once again did not defend its yield target. Economists at Citibank expect the AUD/USD to turn back lower as the 0.7550 level proves to be a tough resistance.

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  • The USD/CAD pair quickly recovered around 20 pips from daily lows touched in the last hour and was last seen trading with modest intraday gains, around mid-1.2300s.

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  • GBP/JPY continues to push higher, having printed a fresh high at 158.22 last Friday. Benjamin Wong, Strategist at DBS Bank, expects the pair to lurch even higher.

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  • The USD/CAD pair bounced nearly 30 pips from the early European session lows and was last seen trading just a few pips below daily tops, around the 1.2370 region.

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  • The AUD/USD pair was last seen hovering just below the key 0.7500 psychological mark. Economists at OCBC Bank expect the aussie to fail to surpass the 0.7550/60 resistance zone.

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  • The GBP/USD pair struggled to preserve its intraday gains to the 1.3800 neighbourhood and has now retreated to the lower end of its daily trading range. The pair was last seen hovering around mid-1.3700s, just a few pips above lows touched during the Asian session.

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  • GBP/USD seems to have lost its footing following the disappointing Retail Sales data early Friday. Economists at MUFG Bank have brought forward their call for a hike to November. 

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  • USD/CHF is weighing on the downside. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, would allow for a slide back to the 2020- 2021 uptrend at 0.9081.

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  • EUR/JPY’s near-term risks are on the downside. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to extend its move downward to the 127.94/50 region.

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  • The EUR/USD pair stays relatively quiet as investors await October PMI figures. If the data fails to meet market expectations, the common currency could suffer renewed downside pressure, economists at MUFG Bank report.

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  • EUR/JPY is near the June high of 134.12. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, would allow for some profit-taking ahead of the June high of this level.

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  • USD/CAD is staging a decent comeback from four-month lows of 1.2289, heading towards 1.2350, in response to a broad-based rebound in the US dollar.

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  • The NZD/USD pair extended its retracement slide from multi-month lows and was last seen hovering near the lower end of the daily trading range, around the 0.7175 region.

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  • The GBP/USD pair witnessed some selling on Thursday and dropped to sub-1.3800 levels during the first half of the trading action, though lacked any follow-through.

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  • USD/INR stays offered around an intraday low of 75.05, down 0.07% on a day as European traders prepare for Wednesday’s bell. In doing so, the Indian rupee (INR) pair drops for the second consecutive day as positive headlines concerning India join the softer US dollar.

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  • 24-hour view: “Yesterday, we highlighted that ‘GBP could edge higher but it is unlikely to break the resistance at 1.3770’. We did not anticipate the surge in momentum that sent GBP soaring to 1.3834. The sharp and rapid advance appears to be overdone and GBP is unlikely to strengthen further."

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  • USD/TRY remains pressured around intraday low of $9.2899, seesaws of late ahead of Wednesday’s European session. In doing so, the Turkish Lira (TRY) pair struggles to justify the US dollar weakness, as well as negative headlines concerning Turkey.

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  • GBP/AUD has cratered from its late September 1.8961 highs. But any onward decline runs into a layer of robust support broadly in the 1.8304-1.8235 patch, Benjamin Wong, Strategists at DBS Bank, reports.

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  • EUR/CHF pivots away from 1.07. However, the down move could persist with next support levels seen at 1.0660 and the 1.05 2020 low, economists at Société Générale report.

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  • The USD remained heavily offered through the first half of the European session and pushed the GBP/USD pair to one-month tops, closer to the 1.3800 mark in the last hour.

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  • The price of USD/INR met the daily support zone and is now in the process of consolidation at a critical juncture. If the price fails to move higher from here, there is an argument for a long term consolidation with 74.50 eyed as a downside target

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  • The USD/CAD pair bounced around 40 pips from the Asian session lows and was last seen hovering near the top end of its intraday trading range, around the 1.2385-90 region.

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  • The EUR/USD pair remains subdued in the Asian session on Monday. The pair opens up near 1.1600 but fails to preserve the upside momentum. At the time of writing, EUR/USD is trading at 1.1587, down 0.09%.

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  • 24-hour view: “We highlighted yesterday that ‘there is room for GBP to advance to 1.3695, possibly 1.3715’. The subsequent advance exceeded our expectations as GBP rose to 1.3734. However, GBP pulled back sharply from the high."

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  • The GBP/JPY cross-currency pair posts gains for the eight-straight session. The pair seems exhaustive near the five-year highs around 157.40. At the time of writing, GBP/JPY is trading at 157.04, up 0.02% for the day.

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  • EUR/GBP continues to hold this year's lows at 0.8471/49. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to challenge the 0.8659/73 highs on a break above the 55-day moving average (DMA) at 0.8542.

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  • Most analysts (14 out of 15 analysts in Bloomberg's survey) expected no change in policy settings. However, the MAS surprised the market by raising the slope of the SGD NEER policy band. The SGD rallied on today's MAS action and economists at TD Securities see further upside

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  • 24-hour view: “We did not expect the sharp sell-off that sent USD plunging to 6.4250. While already oversold, the weakness in USD has not stabilized. From here, USD could retest the 6.4240 level before stabilization can be expected. 

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  • The price is well into the bear's lair at this juncture and a downside correction would be expected imminently. The Fibonacci retracements are in focus with the 38.2% Fibo inline with prior market structure looking left near 75 the figure. 

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  • The price is well into the bear's lair at this juncture and a downside correction would be expected imminently. The Fibonacci retracements are in focus with the 38.2% Fibo inline with prior market structure looking left near 75 the figure. 

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  • The AUD/USD pair extended the previous day's late pullback from over one-month tops and continued losing ground through the Asian session on Wednesday. The pair dropped to two-day lows, around the 0.7330 region in the last hour, albeit lacked follow-through selling.

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  • The USD/JPY pair edged lower through the Asian session and dropped to fresh daily lows, around the 113.35 region in the last hour. The pair witnessed some selling during the first half of the trading action on Wednesday and eroded a major part of the overnight gains to the highest level 

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  • The EUR/USD holds gains in the  Asian session on Wednesday. After testing the fresh 2021 lows around 1.1520 in the overnight session, the pair rebounded and bounced back above 1.1550. At the time of writing,  EUR/USD is trading at 1.1552, up 0.22% for the day

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  • The US-based ratings agency, Fitch Ratings, in its latest report, said that “we further lowered India's GDP forecast for the fiscal year ending March 2022 (FY22) to 8.7% from 10.0% in June as a result of the severe second virus wave.”

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  • The Office for National Statistics (ONS) showed on Tuesday, the UK’s official jobless rate matched market expectations, by arriving at 4.5% in August vs. the previous 4.6% and 4.5% expected while the claimant count change showed a small decrease last month from the previous.

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  • The NZD/USD pair bounced over 25 pips from daily lows, albeit lacked any follow-through buying beyond mid-0.6900s. Following the previous day's pullback from multi-day tops, the NZD/USD pair attracted some dip-buying near the 0.6925 region on Tuesday 

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  • USD/CAD has stalled its rebound from three-month troughs of 1.2446, as sellers return amid a pullback in the US dollar and a fresh uptick in oil prices. The US oil is resuming its upside while recapturing the $80 mark while the greenback pulls back from near yearly tops despite the risk-off market profile.  

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  • USD/CAD extends Friday’s losses to renew multi-day low near 1.2450, down 0.10% intraday ahead of Monday’s European session. In doing so, the Loonie pair tracks multi-month high of WTI crude oil prices, Canada’s main export.

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  • 24-hour view: “We expected USD to ‘trade within a 111.15/110.60 range’ yesterday. USD subsequently rose to 111.65 before settling at 111.59. Upward momentum is beginning to improve and the bias for today is on the upside towards 111.95. Last week’s high at 112.07 is a solid resistance and is unlikely to break. Support is at 111.50 followed by 111.35.”

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  • EUR/USD is posting small gains while consolidating in a tight range below 1.1600, as the US dollar rebound appears to have capped the upside.

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  • EUR/JPY edges higher on Monday in the early European trading session. The pair extends the previous session’s gain and rides higher comprising more than 70-pips movement. At the time of writing, EUR/JPY is trading at 130.47, up 0.51% for the day.

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  • USD/INR keeps pullback from multi-day top around 74.77 during early Thursday. The Indian rupee (INR) pair jumped to the highest levels since late April the previous day before easing from 75.05 as risk-on mood weighed on the US dollar.

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  • The GBP/USD pair quickly recovered around 25-30 pips from the early European session lows, albeit struggled to capitalize on the move beyond the 1.3600 round-figure mark.

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  • The USD/CAD pair erase its daily gains and closed virtually unchanged at 1.2587 on Wednesday. Although the pair managed to edge higher toward 1.2600 in the early European session on Thursday.

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  • The NZD/USD pair dived to fresh weekly lows during the early European session, with bears now looking to extend the downward momentum further below the 0.6900 mark.

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  • 24-hour view: “Our view for USD to ‘trade sideways between 110.80 and 111.25’ yesterday was incorrect as it soared to 111.55. The rapid advance has room to extend and a break of the major resistance at 111.70 would not be surprising." 

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  • “Our expectation for USD to ‘edge higher to 6.4630’ did not materialize as it traded sideways within a narrow range of 6.4429/6.4596. Momentum indicators are mostly neutral and further sideway-trading seems likely. Expected range for today, 6.4420/6.4650.”

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  • USD/JPY flirts with 111.00, intraday top 111.11, as European traders brace for Monday’s bell. The risk barometer pair previously dropped amid softer US Treasury yields weighing on the US dollar while the latest rebound could be linked to the shift in sentiment.

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  • Having failed to clear a strong supply zone near 1.3580 recently, GBP/USD has turned south starting out a fresh week, now consolidating near mid-1.3500s.

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  • EUR/USD looks to have finally confirmed its large “head & shoulders” top. The pair is expected to fall to 1.1495 initially and potentially 1.1020/00 over the long-term, economists at Credit Suisse report.

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  • USD/INR reverses pullback from two-month high above 74.00 amid risk-off mood during early Monday. That said, the Indian rupee (INR) pair prints 0.06% intraday gains around 74.20 heading into the European session.

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  • EUR/USD starts the month in the lower end of the range and close to recent YTD lows near 1.1560  against the backdrop of the generalized rangebound theme in the global markets and lack of direction in the greenback.

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  • USD/THB has crossed above the monthly Ichimoku cloud denoting room for potential upside. Economists at Société Générale expect the pair to head towards the 35.00 level once above 34.00.

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  • GBP/USD continues to consolidate for the past two sessions. The pair confides in a narrow trade band with a downside bias. At the time of writing, GBP/USD is trading at 1.3471, down 0.02% for the day.

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  • USD/INR drops back to 74.25, down 0.11% intraday ahead of Thursday’s European trading session. In doing so, the Indian rupee (INR) pair steps back from the two-month high, flashed the previous day.

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  • The AUD/USD pair is trading below the 0.7220 support level. Analysts at OCBC Bank expect the aussie to grind lower towards the 0.7000 level on a break below 0.7167.

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  • The USD/JPY pair held steady near multi-month tops through the early European session, with bulls looking to build on the momentum further beyond the 112.00 round-figure mark.

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  • USD/CAD fades the previous day’s rebound, easing to 1.2680 by the press time of the pre-European session on Wednesday. In doing so, the Loonie pair seesaws between 50-SMA and 200-SMA, keeping the previous day’s bullish chart confirmation.

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  • The GBP/USD pair remains muted following the previous day’s downfall. The pair crumbled below 1.3600 for the first time since July on fresh strength in the greenback and the UK domestic factors

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  • EUR/JPY edges higher on Wednesday morning in the early European trading session. The pair hovers in a very narrow trade band riding up on the previous day’s gains. At the time of writing, EUR/JPY is trading at 130.30, up 0.03% for the day.

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  • 24-hour view: “We highlighted yesterday that EUR ‘could dip below 1.1680 but may not be able to maintain a foothold below this level’. We added, ‘the next support is at 1.1662’.

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  • The GBP/USD pair added to its heavy intraday losses and dived to sub-1.3600s, or over two-month lows during the mid-European session. Following an early uptick to the 1.3715 area, the GBP/USD pair witnessed aggressive selling on Tuesday 

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  • AUD/USD remains in a short-term range above support at 0.7221/19. Nonetheless, economists at Credit Suisse stay mildly biased towards a test of major long-term support at 0.7121/06.

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  • The selling pressure around the single currency remains well in place and now drags EUR/USD to fresh lows near 1.1680 on Monday.

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  • The USD/JPY pair shot to the highest level since July 5 during the first half of the European session, with bulls now eyeing a sustained move beyond the 111.00 mark.

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  • As Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, notes, the USD/RUB pair slides back towards its current September low at 72.24 below which sits the June trough at 71.55.

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  • USD/ZAR continues to have the August peak at 15.3950 in its sights while remaining above 14.5682, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, reports.

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  • Palladium (XPD/USD) grinds higher around $1,990, up 0.50% on a day heading into Friday’s European session. In doing so, the quote consolidates the weekly losses around the lowest levels since June 2020.

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  • USD/INR takes offers around 73.78, down 0.12% intraday during early Friday. The Indian rupee (INR) pair snapped a two-day uptrend the previous day before bouncing off 73.60. The rebound, however, failed to last amid the cautious optimism ahead of the key events.

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  • NZD/USD remains directionless, recently easing to 0.7067 ahead of Friday’s European session. The kiwi pair refreshed weekly top the previous day before stepping back from 0.7094. However, the pullback moves remain above 200-HMA.

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  • USD/CAD retreats to 1.2790, down 0.25% intraday, as European traders brace for the key Wednesday. The Loonie pair drops for the consecutive day, extending the early week pullback from the monthly top as risk appetite improves in China’s return.

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  • USD/CHF takes the bids to refresh daily top, around 0.9250, up 0.12% intraday, while snapping a two-day downtrend ahead of Wednesday’s European session. In doing so, the Swiss currency pair rebounds from an ascending support line from September 03, around 0.9230 amid a firmer Momentum line.

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  • EUR/CHF has failed on the initial test of the 1.0941 downtrend. The pair is set to tick down towards the mid-October lows at 1.0700/1.0689, Karen Jones, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.

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  • USD/ZAR’s steep descent has taken it close to the 14.0206/13.9522 support area, to the current September low at 14.0630, before rallying again. Now, the pair has the August peak at 15.3950 in its line of sight, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, reports.

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  • EUR/USD has removed support at 1.1757/26 to turn the spotlight back on major support at 1.1695. A sustained move below here should finally establish a large “head and shoulders” top to expose support at 1.1495, analysts at Credit Suisse report.

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  • The sour sentiment in the risk complex remains well in place on Monday and it has been exacerbated further as of late in response to fears of contagion following the Evergrande issue in China.

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  • USD/CHF has reached much tougher resistance at the 0.9274 July high. The pair has limited upside from here as the 2019-2020 downtrend at 0.9342 is expected to cap, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.

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  • The USD/JPY pair maintained its bid tone through the early European session, with bulls now awaiting a sustained move back above the key 110.00 psychological mark.

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  • The AUD/USD pair extended its steady intraday ascent through the early European session and climbed to fresh daily tops, around the 0.7315 region in the last hour.

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  • After testing fresh daily gains above 0.8560 in the overnight session, EUR/GBP edges lower on Thursday. The pair confides in less than 10-pips movement with no meaningful tractions.

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  • EUR/USD has failed to move away from the 1.18 magnet. The pair is sidelined, but intraday Elliott wave counts are negative. Therefore, EUR/USD may fall below the 1.1750 level, according to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.

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  • The GBP/USD pair maintained its offered tone heading into the European session and was last seen trading near daily lows, around the 1.3825-30 region.

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  • Yesterday, we held the view that USD ‘could retest the 6.4300 level before a more sustained rebound can be expected’. While our view for USD to move lower was not wrong, USD dropped to 6.4251 before recovering slightly. 

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  • The UK has reported a decrease in its Unemployment Rate to 4.6% in July, as expected, while Average Earnings excluding bonuses beat estimates with an increase of 8.3% YoY. Jobless claims fell by 58,600 in August, below expectations.

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  • USD/INR remains on the front foot around 74.63, up 0.11% intraday, during early Tuesday. The pair began the week on a positive note before stepping back from 73.78. However, cautious mood ahead of the US Consumer Price Index (CPI) for August underpins the pair’s latest gains.

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  • The USD/JPY pair traded with a mild positive bias through the Asian session and was last seen hovering near daily tops, just above the key 110.00 psychological mark. A combination of supporting factors assisted the USD/JPY pair to edge higher for the third consecutive session on Tuesday 

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  • EUR/GBP edges lower while extending the previous session’s downside momentum. The pair confides in a very tight trade band. At the time of writing, EUR/GBP is trading at 0.8533, down 0.03% for the day.

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  • EUR/CHF has failed at the 200-day moving average (DMA) at 1.0898. Now, the pair is set to move downward as low as the 1.0629 November low, in the view of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.

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  • The USD/CAD pair remained on the defensive heading into the European session and was last seen trading with modest losses, around the 1.2665 region. A combination of diverging forces failed to assist the USD/CAD pair to capitalize on Friday's strong rally of over 110 pips

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  • The NZD/USD outperformed its closest peer AUD (as well as most other G10 currencies) last week and after a short-lived rally, AUD/NZD has now dropped to 1.0350. AUD/NZD has more downside potential, in the opinion of economists at ING.

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  • The GBP/USD pair refreshed daily lows during the early North American session, with bears now looking to extend the downward trajectory further below the 1.3800 mark.

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  • EUR/CHF is failing to surpass the 200-day moving average (DMA) at 1.0898. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to decline toward the 1.0643/1.0629 area.

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  • EUR/JPY continues to struggle around 130.55. But Karen Jones, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, still expects the pair to test the 131.03/08 neighborhood.

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  • AUD/JPY edges lower on Thursday in the early  European session. The pair opened higher but failed to preserve the momentum and touched the intraday low. At the time of writing, AUD/JPY is trading at 80.95, down 0.28% for the day.

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  • The AUD/USD pair bounced around 20 pips from daily lows and was last seen trading in the neutral territory, around the 0.7360-65 region heading into the European session.

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  • In India, the market still continues to expect tight management of USD/INR by the Reserve Bank of India (RBI). Price action of late suggests the RBI’s near-term “red line” has shifted to 73.00 in USD/INR, economists at Credit Suisse report.

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  • The trend in USD/TRY in recent weeks has been firmly on the downside despite a few setbacks. Economists at Credit Suisse drop their USD/TRY 9.10 target for Q3 and mark the 8.10-8.15 area in the pair as a possible short-term target in case markets remain reluctant to price in meaningful rate cuts.