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-Safe havens were hurt Monday, helping........>

FOREX
FOREX: -Safe havens were hurt Monday, helping press USD, JPY and CHF lower from
the off - moves that held for much of the trading day and into Monday's close.
This follows the seemingly harmonious resolution of the Trump-Xi dinner party
Saturday, which pushed back planned US tariffs on Chinese goods by a further
three months. US equities joined the global stock rally, with
better-than-expected ISM Manufacturing figures underpinning stronger sentiment
also.
-Commodity-tied currencies were the main beneficiaries alongside the rally in
the energy complex, buoyed by Qatar's OPEC withdrawal and a renewal of the
Saudi-Russian oil market management pact into 2019. USD fell below last week's
lows, making a beeline for the 50-dma at C$1.3099, which becomes first support.
-Focus turns to the Reserve Bank of Australia rate decision, UK construction PMI
Tuesday and Eurozone PPI. Bank of England governor Carney speaks to UK
parliament and Fed's Williams speaks in New York. As a reminder, most US markets
are closed Wednesday.

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