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EUR/USD snaps losing streak on Goldilocks.....>

FOREX
FOREX: EUR/USD snaps losing streak on Goldilocks PMIs
- Contrasting EU and US PMI data Friday was just what EUR/USD bulls were looking
for Friday and helped the single currency snap an extended sequence of lower
lows. German and French flash PMI headlines topped forecast, however there were
troubling details underneath, with Coronavirus-impacted supply chains
constraining producers and giving the false impression manufacturers are working
at capacity. This effect wasn't present in the US numbers, which fell below
expectations and prompted markets to aggressively pressure the US sovereign
curve, resulting in new alltime lows for longer-end yields.
- USD/JPY's rally moderated on poor US data, with the pair finding it difficult
to progress above the Y112 handle. AUD bounced well in the US afternoon, but the
pair remains perilously close to multi-year lows printed in the Asia-Pac
session. Coronavirus concerns remain paramount, as the slow in Chinese case
growth is countered by further cases being reported internationally.
- German IFO data, French and German CPI US consumer confidence and Q4 GDP and
MNI Chicago PMI are the data highlights next week.

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