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10.01.2022 Market Report


EUR/USD faces modest bearish pressure and trades below 1.1350 early Monday as rising US Treasury bond yields help the dollar find demand. The data from the euro area showed that investor sentiment improved in January but this report failed to trigger a noticeable market reaction.


GBP/USD is on the defensive below 1.3600, struggling for clear direction amid a cautious market mood, covid and Brexit concerns. The US dollar stages a decent comeback after Friday’s sell-off, as yields stabilize at higher levels.


USD/JPY attracted some buying on Monday and stalled its recent pullback from a multi-year high. A generally positive risk tone undermined the safe-haven JPY and extended support to the major. Fed rate hike bets, elevated US bond yields revived the USD demand and provided a modest lift.


The AUD/USD pair held on to its intraday gains heading into the European session and was last seen hovering near the daily high, around the 0.7200 mark.


The options market turns most bearish on the NZD/USD in six weeks, per the latest weekly data from Reuters.


The USD/CAD pair remained on the defensive through the first half of the European session and was last seen flirting with the 100-day SMA, around the 1.2625 region.


USD/CHF takes the bids to renew intraday peak to 0.9207 during early Monday morning in Europe.


WTI remains pressured towards $78.00, down 0.80% intraday during Monday’s Asian session. The black gold reversed from the highest levels since mid-November on Friday while portraying the buyers’ exhaustion inside a monthly rising wedge bearish pattern.   


Gold price remains at the mercy of the Treasury yields’ price action. Markets are now pricing in four Fed rate hikes this year; Powell, US inflation eyed..

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