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FOREX SUMMARY

FOREX

A touch lower Cash Equity open, pushed the Futures lower this morning, helping the USD retain its overnight bid.

  • USD is trading on the front foot a continuation from the Asian session, against most majors.
  • Scandies, saw EURSEK jumps 1.5 big figures following the CPI miss, and the pair tested yesterday's high at 10.4162 (printed 10.4128 high).
  • SEK has since recovered, as Equities lack clear downside momentum, bringing EURSEK below pre CPI data at 10.3750.
  • AUD hovers around the figure at 0.7200, after seeing some selling pressure, following overnight concerns between Australia and China on Coal imports.
  • Once again today, worth keeping an eye on FX expiry, which could act as a magnet for today's session, with 1.09bn worth of expiry between 0.7200-0.7220
  • GBP has been mixed in early trading, mainly taking its cue from the USD moves, as investors and market participants wait on Brexit, news.
  • CEE FX sees CZK losing ground against the Greenback, on Covid concerns for the country.
  • USDCZK is up 0.65% at 23.1617.
  • Looking ahead, Earning season begins for Q3, with JPM, J&J and Citi expected today.
  • On the data front, US CPI is the highlight, while BoE Bailey, ECB de Cos, Riksbank Ingves and Fed Barkin are the scheduled speakers
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