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USDCAD TECHS

Key Resistance Is At 1.2203

AUDUSD TECHS

Still Range-Bound

US TSYS SUMMARY

Decent Action on Narrow Range Ahead Wed's FOMC

EURJPY TECHS

Corrective Cycle Still In Play

GERMAN DATA

GERMANY JAN ZEW ECONOMIC SENTIMENT +61.8; DEC +55.0

GERMANY JAN CURRENT CONDITIONS -66.4; DEC -66.5

  • ZEW Expectations rose in Jan, ticking up 6.8pt to 61.8 and coming in stronger than expected (BBG: 57.8).
  • This marks the highest reading since Sep and the second successive increase of economic sentiment.
  • The ZEW Current Conditions improved marginally in Jan, up 0.1pt to -66.4 - a stronger reading than markets expected (BBG: -68.5).
  • "Despite the uncertainty about the further course of the lockdown, the economic outlook for the German economy has improved slightly" says ZEW President Professor Achim Wambach on the current expectations.
  • The report notes further that export expectations in particular increased significantly.
  • Economic sentiment in the Eurozone improved as well by 3.9pt to 58.3in Jan, while current conditions fell by 3.2pt to 78.9.