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USD/JPY holds the lower ground below 104.00 heading into the European open, mainly undermined by the persistent weakness in the US dollar amid economic rebound expectations. Further, upbeat Japanese Industrial Production and Retail Sales for October cheer the JPY bulls, weighing further on the spot.
In a more positive turn of events regarding US lawmakers could be reaching an agreement on fiscal stimulus, American equities and treasury yields moved up higher while the dollar moved downwards. Hopefully, this positive move will also be reflected in the Asian stocks.
It was seen to pullback from $1,921 (a fresh weekly high). This is a result of the strengthening of the USD due to risk aversion sentiment in the market. XAU/USD has consolidated the biggest losses in 2 weeks under $1,900 and is currently staying pressured at the $1,877 levels.
AUD Traders – Stay tuned for two key releases today: Reserve Bank of Australia (RBA) interesting rate decision and Aussie budget. In terms of forecast, no change in interest rate are expected but a dovish tone is expected, especially since RBA Deputy Governor Guy Debelle has expressed concern over a
A key data release today would be the Non-Farm Payroll, out of the US. What will the numbers tell? The latest weekly job claims showed a positive story, as it dipped to 837,000 (a decline of 36,000 from the previous week). Overall, the market sentiment around the world is positive – with the number
For the NZD/USD pairing. The bulls broke past the 0.6600 key resistance (made up of lows from late August and September 09). This favor the buyers to aim for 50-day SMA level of 0.6637. Markets remain cautious as the US presidential election is going on at time of writing, while also waiting to see