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FOREX SUMMARY

FOREX

EUR under pressure across the board, following EU national PMIs.

  • EURUSD dropped 20 pips on the French PMI, and have since extended losses throughout the morning session.
  • EURJPY is now down 0.7%, worst performer in G10, and clear through the initial support at 124.88, with the pair eyeing a test at next key support 124.34.
  • EURJPY is 124.60 at the time of typing.
  • USD is seeing better buying, as S&P drift lower during our European morning session,
  • DXY hovers at the high of the day, with the EUR most weighted in the index.
  • USD is outperforming against NOK the most against G10, with the Greenback up 0.63% on the day.
  • Lower Equities and Oil are the drivers.
  • EMFX are also underperforming, and taking their cue from the risk tone and broader USD buying.
  • Turkish Lira is the exception, with TRY up 0.63% against the USD, as the street await Erdogan's speech and potential details on energy discovery find.
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