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USDCAD TECHS

Heads North

AUDUSD TECHS

Bearish Cycle Still In Play

EURJPY TECHS

Death Cross Adding Pressure

FOREX

Risk Off Prompts Safe Haven Demand

FOREX
FOREX: The JPY moved off of worst levels to trade higher stronger vs. USD & EUR
& as a well trodden political scandal in Japan garnered more traction as fresh
details came to light over the w/end & could undermine PM Abe & FinMin Aso
moving forwards.
- NZD has outperformed its major counterparts in early dealing this week, with
NZDUSD consolidating above 0.7300, after rumoured demand from leveraged &
offshore macro funds. This allowed AUDNZD to move lower, last trading around
1.0750.
- AUD garnered demand in early dealing as the Australia gained exemption from
the US tariffs supported the currency. A soft start to the week for Chinese
commodities, including iron ore, has kept a lid on the AUD in the second half of
the session.
- CHF, GBP & EUR all managed to post modest gains vs. USD.
- Early focus this week will fall on US Tsy supply & Tuesday's US CPI release.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com