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MNI FX Technical Signal Monitor - Risk-off....>

FOREX
FOREX: MNI FX Technical Signal Monitor
- Risk-off has been the overriding theme this week following President Trump's
threats to levy more extensive tariffs on imported goods from China. This
triggered a wave of headline risk ahead of the next round of trade talks
starting today.
- JPY comfortably sits at the top of G10 this week and is generating broad
positive sentiment, according to the MNI FX Technical Signal Monitor.
- Risk factor - JPY crosses are displaying oversold conditions on a number of
tech indicators, including RSI & MACD, which could see a short-term recovery.
- Brexit uncertainties continue to pressure sterling. GBPUSD traded back under
the 100-dma & 1.30 level to 1.2976. Sterling technicals are starting to look
gloomy on an intraday and cloud basis.
-CAD is back on the defensive alongside weaker oil futures which have fallen +9%
off April highs. USDCAD is generating a near clean sweep of bullish signals
targeting a break of the previously hard to overcome 1.35 level.
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