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Euro and, to a lesser extent, Sterling, are picking up some buying today but both are stuck in range against the greenback. There is no clear unified theme in the markets. Canadian and Australian Dollar are weak, but New Zealand Dollar is strong. Swiss Franc is trailing other Europeans higher but Yen is heading down,
AUD/JPY snaps three-day uptrend, remains pressured around intraday low. Australia Trade Balance improved but Exports, Imports dropped in October. Failures to cross 100-EMA keep sellers hopeful, bulls need validation from 92.00. AUD/JPY holds lower ground near the intraday low of 91.63 during early Thursday. In doing so, the cross-currency pair justifies the mixed plays of
The Bank of Canada will announce their interest rate decision at the top of the hour. The current rate is at 3.75%. There are mixed feelings about whether they do 25 or 50 basis points. Goldman Sachs expects 50 basis points: “At this week’s BoC meeting, our economists expect the Bank to deliver another SObp
Overall, the markets continue to trade in a mixed manner. US stocks declined for a second day overnight, but the selloff didn’t continue in Asia. Sentiment is somewhat supported by optimism of easing restrictions in China. In the currency markets, Yen is currently the worst performer for the week, followed by Aussie. Canadian Dollar is