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USDCAD TECHS

Bears Still in Control

AUDUSD TECHS

Tops 0.80 as Reflationary Theme Rolls On

SILVER TECHS

Volatile, Outlook Remains Bearish

EURJPY TECHS

Accelerates Off Bull Trigger

WTI TECHS

(J1) Uptrend Firm

EURGBP TECHS

Bouncing Well

EURO-DOLLAR
EURO-DOLLAR: US slaps new tariffs on EU, Canada & Mexico
- FX currency pairs reversed morning gains through NY as month-end rebalancing
USD sales dried up amid a slew of headlines from Italy & Spain.
- US Commerce Secretary Ross outlined details of steel and aluminium tariffs for
EU, Canada & Mexico, effective from midnight. NAFTA talks failed to reach a
conclusion, but some leeway has been given to Argentina, Australia and Brazil.
CAD already holding heavy after the release of soft Quarterly Annualised GDP
(1.3% vs median 2.0%), touched extended react highs of C$1.2991, USDMXN lifted
to its highest levels since early 2017.
- Metal tariffs with added weight from Spain's Rajoy no confidence vote started
to weigh on the EUR. EURUSD slipped to $1.1641 followed by an immediate recovery
to $1.1665/70 amid choppy 2-way price action. Headlines that Italy's Five Star
had agreed on a government team provided a welcome relief to challenge $1.1700,
but soon faded.
- USDJPY WMR fixing demand squeezed 30 pips to Y108.70. GBP & AUD sales post fix
pressured to $1.3282/0.7555 respectively.