FX

CME Group’s preliminary readings for crude oil future markets noted traders partially reversed Friday’s pullback and rose by around 5.6K contracts at the beginning of the week. Volume, instead, went up sharply by around 472.1K contracts after two daily builds in a row. WTI on its way to $65.00 and above The rally in crude
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AUD/USD bulls catch a breather near the highest since February 2018. Statements from China, likely US-Iran tussle and Fitch’s negative outlook on Aussie credit rating failed to supersede virus/vaccine, stimulus optimism. Light calendar emphasizes risk catalysts for fresh direction. AUD/USD wavers around 0.7920, stepping back from a fresh three-year high a few minutes back, during
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What you need to know on Monday, February 22:  The greenback weakened against most of its major rivals, with AUD and GBP soaring to fresh multi-year highs. The American currency edged lower despite US Treasury yields resumed their advances and finished the week at their highest in a year. Wall Street closed mixed on Friday,
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USD/CNH is forecast to advance further once 6.4500 is cleared, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “We highlighted yesterday that ‘there is room USD to test the strong resistance at 6.4400’. We added, a sustained advance above this level is unlikely. The subsequent advance exceeded our expectation as USD popped to
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What you need to know on Thursday, February 18: Demand for the greenback persisted, backed by higher US Treasury yields, as those on long-term government debt reached fresh one-year highs. Upbeat US Retail Sales, probably as a result of stimulus checks, further supported the American currency. The FOMC published the Minutes of their latest meeting,
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FX Strategists at UOB Group noted USD/CNH could bounce off recent lows and re-test the 6.4500 area in the next weeks. Key Quotes 24-hour view: “We highlighted yesterday that USD ‘could dip below 6.4000 but the prospect for extension to 6.3900 is not high’. However, USD rebounded strongly after touching 6.4010. While the sharp rebound
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What you need to know on Tuesday, February 16: Optimism maintained the greenback under pressure against all major rivals but the JPY. The upbeat sentiment was backed by hopes that US Congress will speed up a stimulus bill now that they acquitted former US President Donald Trump on his second impeachment. China and the US
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