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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

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  • The greenback trades better bid ahead of the Thursday NY crossover, putting EUR/USD in range of next support at 1.1770 - the Sep13 low. A break south of here opens the 61.8% Fib at 1.1758. Market turnover is ahead of average, with EUR futures pointing to volumes around 50% ahead of average for this time of day.
  • NZD, JPY are among the only currencies outperforming the greenback at this juncture, with the former trading well after a better-than-expected GDP read. Q2 growth across New Zealand came in over double expectations at 2.9% vs. Exp. 1.1%. This pushed the Y/Y figure to an impressive 17.4%. This puts EUR/NZD within range of the September lows at 1.6533. A break below here marks the lowest rate since March.
  • Scandi FX is underperforming ahead of the Riksbank, Norges Bank rate decisions due next week. USD/SEK eyes the 50-dma at 8.6477.
  • Focus turns to weekly US jobless claims and the August retail sales report. Retail sales are expected to have slipped by 0.7% across the month, a slightly improvement on the July turn out. ECB's Lagarde is due to speak in Paris at 1300BST/0800ET.