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FOREX SUMMARY

FOREX

A busy session for FX and Risk off continuation this afternoon.

  • USD continues to lead the gains this afternoon, with Equities under pressure throughout the session.
  • Risk tied FX, JPY and CHF were better bid, albeit within ranges.
  • Pound and Cable saw a busy wide range session, with Cable falling towards MNI tech support at 1.3005/2995 Low Aug 12 / 50-day EMA, printed 1.3010 low.
  • Negative risk sentiment as Equities kept on falling, hasn't helped EMFX.
  • USDZAR traded through the 50d MA and made a 17.0022 high.
  • Some relief trade in USDZAR, and we pulled back from planet 17.00, now at 16.90 at the time of typing.
  • USDTRY tried to test the psychological 7.50 level, but failed just short at 7.4869.
  • WTI fell down to $36.50, on the lower equities, but especially on demand outlook concerns and US-China relation risks
  • USDCAD pushed higher on the lower oil to trade up to 1.3198, but the pair is settling back closer to 1.3175.

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