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USDCAD TECHS

Heading North

GLOBAL POLITICAL RISK

Modi, AMLO Top Major Economy Leader Poll, Macron Last

AUDUSD TECHS

Under Pressure

EURJPY TECHS

Trend Condition Remains Bearish

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  • USD/TRY trades +0.61% higher this morning, tracking price action in the BBDXY.
  • Yesterday saw some calm return to the cross with 1m implied volatility coming off its peak above the 50 mark.
  • Comments from Government officials remain concerning as they continue to back the current policy stance of low rates and high growth, which may pose risks to further easing as leaders double down, despite the clear market implications.
  • With limited data on the agenda and many still on holiday in the US, the focus should still remain on domestic factors with markets still sensitive to headline risks from government officials on rates policy.
  • Intraday Sup1: 11.8667, Sup2: 11.5871, Res1: 12.3428, Res2: 12.4788