EUR/USD:EUR/USD wavers around intraday low after recently failing to bounce off 1.1832. US dollar bounces off
lowest in one week as challenges to risk increase. Bulls need to overcome September 10 top to regain the controls.
GBP/USD:GBP/USD stands on slippery grounds after stepping back from the monthly high the previous day.
The Cable’s reaction was mainly to the Times headlines suggesting the European Union’s (EU) push for
the no-deal preparations.
USD/JPY: USD/JPY continues to find pressures on rallies and bears stay in control. An underbelly of risk-off is
supporting the yen due to the rise in global covid cases. USD/JPY lost -0.3% overnight and fell to 103.65 before
it ran to test the 104 figure ahead of the Tokyo open, albeit to no avail.
AUD/USD :AUD/USD's bounce remains capped below 0.7300 despite the Australian employment positive surprise
and record-high Chinese iron-ore prices. The Unemployment Rate beat estimates with 7%. Markets remain jittery
amid persistent covid fears.
USD/CAD: USD/CAD extends pullback from one-week low inside short-term falling wedge. The pair confronts
a joint of 200-hour EMA and a falling trend line from November 13, forming part of a short-term falling wedge.
Although bullish MACD favors the pair’s strength, the key resistance confluence, followed by the 1.3100 threshold,
can challenge the USD/CAD buyers.
Gold: Gold traders remain nervous as two starkly different narratives on the coronavirus continue to play out.
if the risk aversion deepens going forward, the safe-haven US dollar is likely to draw bids and weigh negatively
*WTI CRUDE OIL*
The WTI crude has carved out an expanding channel over the past two months. A close above that level would
confirm a bullish breakout, validating the above-50 or bullish reading on the 14-day RSI and opening the doors
to the August high of $43.78.
*AUD -Employment Change*
*AUD -Unemployment Rate*
*CAD - ADP Non-Farm Employment Change*