USD CAD 20201006 16.12

 

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EUR CAD EXITEUR CAD 20200901 11.21

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EJexitEUR JPY 20200922 11.04

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GBP USD exit

The GBP/USD pair lifted above 1.2900 on headlines that the UK and EU will persist with Brexit negotiations, adding to background optimism that a deal can be reached at the eleventh hour. Nonetheless, Terence Wu from OCBC Bank expects the cable to be capped by the 1.30 mark. Rhetoric from the negotiators on both sides were nowhere near optimistic, although intervention from EC President von der Leyen and PM Johnson kept the talks going. The fact that the talks would continue was enough to suppor the GBP.

GBP USD 20200924 19.20

 

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DAXexit

The DAX 30 has fallen under selling pressure this week alongside US indices which have been a source of weakness for risk assets. Despite a clear domestic catalyst or heightened exposure to technology like that of the Nasdaq 100, the DAX 30 suffered a significant technical break. As a result, it seems the DAX 30 is in a precarious position should equity weakness persist.
The newfound vulnerability stems largely from the breach of the ascending trendline from mid-June. The level had helped guide the DAX higher since its inception, even withstanding multiple tests in early September. While sturdy, the level was not bulletproof and Monday’s selloff carried the conviction require to break the line, quickly allowing further losses once it was breached.

Germany 30 20200915 12.08

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OILexit

Prices of the barrel of the American reference for the sweet light crude oil prolonged the correction lower on Friday after President Trump tested positive for coronavirus following Tuesday’s presidential debate.

In the meantime, demand fears continue to keep crude oil prices depressed so far this week despite inventories in the US continue to shrink, as per recent weekly reports from the API (Tuesday) and the EIA (Wednesday).

Oil US Crude 20200929 11.22

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GBP USD 20200924 19.20

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