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FOREX SUMMARY

FOREX

A busy afternoon session for FX, as the USD led direction.

  • US CPI came out inline, and wasn't a driving factor.
  • Stimulus related headlines remain key driver for assets: House Majority Leader Hoyer on MSNBC says Speaker Pelosi and Tsy Sec Mnuching" want to make a deal" says Pres Trump is "erratic, impulsive on talks"
  • USD was bought across the board , testing high of the session versus the EUR, GBP, JPY, CHF, CAD, AUD, NOK and TRY,
  • USDJPY printed a 105.63 high, still short of MNI resistance at 105.83 20-day EMA
  • Cable dropped 20 pips initially, following EU Barnier noted that not enough progress has been made to enter tunnel negotiations..
  • And came under renewed pressure following PM Boris spokesman, saying there's no fear in an Australian outcome.
  • Cable fell down to 1.2960 low, ahead of next MNI tech support at 1.2939/31 20- day and 50-day EMA
  • Looking ahead, Riksbank Inves, ECB de Cos and Fed Barkin are set to speak.

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