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Paring some overnight losses

USD
  • The Dollar continues to trade heavy since the EU Cash Govie open, but off its lows.
  • The Dollar is nonetheless in the red across the majors, a continuation from last Friday's session, as US data missed expectation.
  • The CPI this week will be the decider for 25bps vs 50bps hike from the Fed.
  • AUD is still the best performer in G10, highest since the 30th August, up 0.65%, but off its best level.
  • The weaker USD and Risk On have been supportive.
  • Next resistance for AUDUSD will be seen at 0.6976 2.00 proj of the Oct 13 - 27 - Nov 3 price swing.

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