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04.01.2022 Market Report


EUR/USD is treading water around 1.1300, consolidating the heaviest daily fall since December 17. The currency pair tracks steady Treasury yields while waiting for second-tier data from Germany and the key US ISM Manufacturing PMI.


GBP/USD is under pressure below 1.3500, consolidating Monday’s sell-off. The UK ports fear unfair Brexit advantage, Stormont collapse looms. PM Johnson fears considerable pressure on medical system as cases jump. UK/US Manufacturing PMIs in focus.


USD/JPY is sitting at the highest levels since January 2017, fast-approaching the 116.00 mark, as the US dollar sees a renewed buying interest across the board following the recent strength in the Treasury yields.


AUD/USD is trading close to 0.7200. keeping its recovery mode intact on the upbeat Chinese Caixin Manufacturing PMI. The price is holding above critical support near 0.7180.


The NZD/USD pair traded with a mild positive bias through the early European session and was last seen hovering just a few pips below the 0.6800 round-figure mark.


USD/CAD pares the biggest daily fall in a fortnight, refreshes intraday low at the latest. Yields await fresh clues to extend run-up, USD pullback favors oil buyers. OPEC+ meeting, US/Canada PMIs for December will be in focus.


USD/CHF refreshes intraday low to 0.9173 while paring the previous day’s heavy run-up during Tuesday’s Asian session. The Swiss currency (CHF) tracks steady yields and a lack of major catalysts to print mild losses, down 0.15% on a day.


WTI takes rounds of $75.85 during the early Asian session on Tuesday, after a volatile day that initially refreshed a fortnight low before flashing mild gains.   


Gold Battle lines well-defined ahead of key US data.

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