FOREX SUMMARY

A busy early morning session for FX and across assets.

• USD came under renewed pressure throughout the EU morning session.
• Price action was led by some of the US run=offs results, with Warnock announced as the first winner.
• It also looks more than likely that the Dems will win the 2nd seat, as Ossoff moves ahead.
• Stimulus hope keeps the USD under renewed pressure.
• Despite some European National PMI misses this morning, EUR has taken its cue from the USD selling.
• EUR leads against JPY, but another small round of USD selling goes through.
• Still worth keeping a close eye on EUR appreciation and the ECB going forward.
• Couple of close resistance for the currency are nearing.
• EURJPY comes at 127.08 (dec 18 high)
• EURUSD 1.2353 High Apr 20, 2018
• A more limited impact for Cable, with the pair up 0.21% at 1.3652.
• Next resistance here is still at 1.3704 High Jan 4 where decent selling interest has been noted of late.
• Looking ahead, US ADP, Service PMI, Durable goods are the highlight, as well as the FOMC minutes