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USDCAD TECHS

Solid Bounce

AUDUSD TECHS

Reverses In Style

EURJPY TECHS

Accelerates Off Bull Trigger

USDJPY TECHS

Still Pointing Higher

EURGBP TECHS

Bouncing Well

GBPUSD TECHS

Bulls Press Pause

Proximity to fresh tariffs.........>

EMERGING MARKETS
EMERGING MARKETS: Proximity to fresh tariffs leaves CNH nervous
-After a decent Thursday, CNH retraced somewhat on Friday as markets clearly
remained unnerved by the proximity of Trump's planned tariff hike due on Sunday.
 The 15% levy threat remains in place, leading markets to sell China FX before
the long weekend, keeping USD/CNH in range of cycle highs at 7.1926. Trump's
Twitter feed will be carefully eyed despite the US holidays.
-LatAm FX diverged materially Friday, with ARS resuming its downward trend after
a decent recovery Thursday, while BRL, CLP and COP rallied sharply. Nonetheless,
USD/BRL and USD/MXN remain uncomfortably close to recent cycle highs, meaning
there's little chance of a firm bullish breakout for LatAm FX just yet.
-ZAR's end-of-month rally was impressive on a two-day basis, but the currency
remains on track to confirm a dismal month, dropping close to 6% against the
greenback. For the outlook to improve, ZAR bulls need to press the currency
through Fib support at 14.8556 and the 50-dma at 14.5698.
-Global PMI data, Turkish, South African and South Korean GDP and rate decisions
from Chile and Russia should keep markets busy.