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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

FOREX

JPY started the session comfortably the poorest performer in G10, with USD/JPY's break of the bear channel downtrend the latest driver. Into the US close, however, equity selling set in, extending the S&P500's weakness to well over 2%, pulling the rug out from under growth-proxies and commodity-tied FX.

This pressured AUD nicely, which underperformed most others. Nonetheless, markets failed to press AUD/USD through the Thursday lows thanks to a mixed USD. A break through the Thursday low at $0.7592 would expose the 50-dma open the lowest levels since late December for the pair.

Focus in the coming week turns to the ISM and NFP data for January as well as rate decisions from the Australian, UK and Indian central banks.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com