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SILVER TECHS

Bullish Extension

GOLD TECHS

Heading North

WTI TECHS

(M1) Needle Still Points North

BRENT TECHS

(N1) Bullish Conditions Remains Intact

USDCAD TECHS

Extends Lower With Bears In Charge

DOLLAR-YEN

USD/JPY ground higher yesterday, as participants shied away from safe haven currencies, amid a broader recovery in sentiment and a move higher in U.S. Tsy yields. The rate extended its winning streak to four consecutive days, attacking the 50-DMA in the process.

  • The pair continues to flirt with the 50-DMA, as it trades -6 pips at Y106.85. Bears look for a drop through Aug 6 low of Y105.30, towards Jul 31 low of Y104.19. Bulls would be pleased by a move through the 100-DMA at Y107.23, which would open up the upper 2.0% Bollinger band at Y107.62.
  • The Nikkei reported today that Kubota wwill spend up to Y10bn to build a construction equipment plant in the U.S.
  • Coming up today we have Japanese PPI data.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com