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USD Secures Fourth Weekly Gain

FOREX
  • Despite a pullback into the Friday close, the greenback secured a fourth consecutive weekly gain, with the USD Index holding above the 94 handle well into the close. Friday's modest pullback put the greenback at the bottom of the G10 pile amid mild profit-taking, shrugging off better-than-expected PCE and ISM Manufacturing figures.
  • Currencies among the hardest hit this week managed to bounce smartly into the Friday close, with NOK and GBP among the strongest performers Friday, but among the weakest performers on the week.
  • Equity markets were mixed Friday, with a slip lower in headline European indices helping support JPY for much of the session, a trend which cemented itself further with the show back below Y111.00.
  • Focus in the coming week turns to the nonfarm payrolls release for September, which could seal the Fed's intentions to taper asset purchases ahead of the end of 2021. Rate decisions from the Australian and Indian central banks are also due.
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