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Geopolitics risk remains over USA and Russia tension

USD index remains gradually lower despite of slightly hawkish FOMC minutes that showed some support for USD on the lower side. Geopolitics risk remain higher with the tension on USA and Russia over the Syria issue which is boosting Oil and GOLD to go higher. A lower stock market and some risk off sentiment continues, USDJPY suffers and pulls back below 107 with Nikkei gradually grids lower and with the effect of JPY cross profit taking on top.

EUR running up to 1.2396 before slightly turning back. And the overall hawkish sign from ECB member will see more constructive for EUR in short term. As break 1.24 will be adding more momentum on the upside.

GBP follows the weak USD tone and grids up to 1.4221 overnight before following the EUR retrace. Overall price action remains constructive and hold above 1.4120-30 will see retesting higher level in short term.

Commodity currencies goes higher with the trend still reacting to broad USD movement.

Today the Eurozone Industrial Production, ECB minutes, US initial jobless claims, Import Price Index and ECB’s Coeure and Weidmann speech as well as stock/bond market move will direct the intraday action.

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    Research Risk Warning

    At Hantec Global Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.