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Free AccessRisk-sentiment soured during the..............>
FOREX: Risk-sentiment soured during the Asia-Pacific session, with commodity
futures broadly lower and regional equities all trading deep in negative
territory. Naturally, the yen was the main beneficiary and made solid gains
across the board. Weaker than expected Q3 GDP saw the Aud plunge from $0.7634 to
$0.7572. Eur/Usd opened firm in Europe, strong German Factory Orders data lifted
to $1.1840, but was quick to pare gains. The euro started to drift, moved
through the area of support at $1.1820 to print lows of $1.1812. Cable drifted
throughout the session from $1.3430 to $1.3382 ahead of Brexit Minister Davis'
address to the Brexit Parliament Committee. The yen strengthened across the
board in early Europe. Usd/Jpy moved through the Asia base, briefly dipped under
Y112.00 before support from the 50% fibo Y110.84-113.09 cushioned falls. Rate
later recovered to the Y112.15/20 area. Eur/Jpy slipped from Y132.86 to Y132.42,
dip buyers emerged off the low to settle Y132.60. Despite the overnight soft
Australian GDP reading, consolidation largely remained the theme in Europe,
Aud/Usd held $0.7576-94. Main US data highlight today at 1315GMT from the ADP
Employment Report.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.