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14.10.2021 Market Report


FX Strategists at UOB Group now believe EUR/USD could be headed towards the 1.1640 level in the near term.


Cable’s upside could reach 1.3715 ahead of 1.3750 in the next weeks, suggested FX Strategists at UOB Group.


The USD/JPY pair climbed back above mid-113.00s during the Asian session and reversed a major part of the previous day’s profit-taking slide from multi-year tops.


The AUD/USD pair surrendered modest Asian session gains to over one-month tops and was last seen trading in the neutral territory, around the 0.7375 region.


Further upside is likely in NZD/USD on a breakout of the 0.7000 yardstick, noted FX Strategists at UOB Group.


Moving averages and the Relative Strenght Index (RSI) suggest that the pair is a downtrend.


Swiss franc gains are limited on risk-on sentiment.


CME Group’s flash data for crude oil futures markets noted traders added around 18.2K contracts to their open interest positions no Wednesday, the second session in a row. On the other hand, volume shrank for the second straight session, this time by around 321.4K contracts.


Gold bulls now remain wary amid increasing calls for an earlier Fed rate hike. Traders look forward to a fresh batch of the US economic releases for fresh trading opportunities in gold price while the Fed sentiment will continue to lead the way.