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USDCAD TECHS

Consolidation Mode But Remains Bearish

AUDUSD TECHS

Fails To Hold Onto Thursday’s High

US

'Big Tech' Bill Goes To Senate

COMMODITIES

Oil Up For Fifth Week On Supply Disruption, Geopolitics

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  • GBP/RUB has taken a leg lower today after four tests of dynamic support from the 50dma at 97.845 as risks surrounding ‘Plan B’ restrictions hit UK markets.
  • Geopolitical risks, combined with oil weakness and broad-based risk off pushed the cross +6.33% higher from the 11 Nov lows to peak at 101.0554 on 26 Nov, which corresponds with the crescendo in geopolitical tensions over Ukraine.
  • RUB has been gaining ground against most G10 currencies since then as Ukraine risks dissipate and US-Russia talks become more constructive.
  • Moreover, support from market expectations for further CBR hikes has continued to bolster the currency against late hikers
  • Next major Support stands at 96.6784, 95.522 & 95.0418