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JGB TECHS

(M1) Bullish Focus

AUSSIE 10-YEAR TECHS

(M1) New Multi-Month Highs

USDCAD TECHS

Clearing Major Support

AUDUSD TECHS

Sizeable Resistance Building

EURJPY TECHS

Needle Still Points North

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Trade Data released this morning surprised with a $3 billion deficit versus estimates for a $3.4 billion surplus.

  • Goldman Sachs have released a note claiming the outlook for Mexican exports remains positive, citing strong U.S. demand.
    • US demand and a competitive exchange rate will continue to support Mexican exports.
    • Robust remittances more than offset the loss of income from international tourism, leading to current account surplus
    • Supply chain disruptions caused by gas supply restrictions in the U.S. and Mexico and a scarcity of semiconductors caused weak auto exports, explaining the data surprise.