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UK DATA

UK Monthly GDP Rose As Schools Reopen

SILVER TECHS

Bulls Still In Charge

UK DATA

UK GDP Down in Q1 Amid Lockdown

GOLD TECHS

Bullish Price Sequence

WTI TECHS

(M1) Needle Still Points North

FOREX
FOREX: After several sessions of underperformance, AUD & NZD broke to fresh
cycle lows vs. USD Thursday, weakening their respective technical pictures &
leaving commodity linked FX at the bottom of the G10 pile. Rallying U.S. yields
depressed energy & metals prices, alongside souring equities in both Europe &
the U.S., which added notable cumulative weight to the Antipodeans. This may be
a welcome sight for Chinese importers when mainland markets return Monday.
- JPY & GBP were comfortably the best performers, with favourable Brexit
headlines helping the latter (UK PM May has reportedly accelerated her Brexit
timeline, meaning a deal could be sewn up as early as Christmas), while
worsening risk sentiment propped up safe haven FX. The slip in USD/JPY during NY
hours followed the printing of fresh cycle highs for the pair, up at ~Y114.55.
- EUR/USD was dragged from its $1.1543 peak as MNI sources reported that the ECB
could be considering a twist-like op, boosting its long-term debt purchases.
- Attention shifts to U.S. NFPs, as well as various ECB & Fed speakers Friday,
with AU retail sales & BOJ Rinban operations providing the notable points of
interest during Asia-Pac hours.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com