According to FX Strategists at UOB Group, EUR/USD is expected to keep the 1.1555-1.1670 range unchanged for the time being.
Cable is still seen navigating within the 1.3690-1.3840 range in the short-term horizon, suggested FX Strategists at UOB Group.
USD/JPY licks its wounds around 114.00, down 0.12% intraday, as European traders brace for Wednesday’s bell. In doing so, the yen pair bounces off a one-week-old ascending support line by the press time.
AUD/USD could extend the bullish momentum to the mid-0.7500s in the next weeks, noted FX Strategists at UOB Group.
NZD/USD consolidates weekly gains after Tuesday’s sluggish performance.
Given the likelihood of the Bank of Canada’s (BOC) tapering announcements, USD/CAD prices may witness further downside. However, any surprise may follow the firmer US dollar moves to favor the pair buyers.
USD/CHF recovers from intraday low towards the 0.9200 as European traders brush their screens for a long Wednesday. Even so, the Swiss currency (CHF) pair prints 0.12% daily losses, the first in a week, by the press time.
Preliminary readings from CME Group noted traders scaled back their open interest positions in crude oil futures markets for yet another session on Tuesday, this time by around 8.2K contracts. In the same line, volume reversed three daily pullbacks in a row and went down by around 468.3K contracts, the largest single-day drop since July 2.
CME Group’s flash data for gold futures markets noted open interest reversed two consecutive daily builds and shrank by around 5.8K contracts on Tuesday. Volume, instead, extended the erratic activity and went up by around 39.5K contracts.
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