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US Market Update – The dollar perked up following the mix of data, where a soft, but not as bad as expected Durable Goods report, and a higher than expected revised Q1 GDP print gave dollar bulls some support. Sterling has continued to suffer, with Cable at its lows and showing a 1.1% loss on the day. The pound is down by 1.6% versus the yen, and by 0.9% versus the euro.  A YouGov poll showed that the Conservative Party lead has slipped to just 5 percentage points ahead of the June-8 general election. The June-19 start date for Brexit negotiations is also starting to sharpen markets risk awareness.

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EUR/USD shakes above 1.18 after upbeat US retail sales

EUR/USD is trading above 1.18 after US retail sales missed with 1.2% in July but on top of upward revisions and alongside robust core increases. Consumer sentiment for August is awaited.


USD/JPY: A battle of control is underway as 107 hardens-up

USD/JPY bull sin control while holding above 4-HR support. Resistance in the 107 area is capping bullish attempts and failures could trigger a battle for control. A break of support at this juncture would lure in the bears to test a 61.8% Fib and prior key support structure.


GBP/USD trades above 1.3050 ahead of more reopening steps

GBP/USD is trading above 1.3050, off the lows. The UK is set to ease some restrictions over the weekend, extending its gradual exit from lockdown. The US dollar is taking a break after gaining and ahead of retail sales. 


Gold trades with modest losses, below $1950 level

Gold traded with a mild negative bias through the early European session and was last seen hovering near the lower end of its daily range, around the $1945 region.

Gold News

WTI drops to $42 amid poor Chinese data led risk-aversion

WTI (futures on Nymex) has come under fresh selling pressure and attacks the $42 level, as risk-aversion seeps into the European session and diminishes the demand for the higher-yielding assets such as oil.

Oil News