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Markets speculative demands affected by Catalonia’s independence declaration


EUR/USD lower gradually from NYC 1.1820 with some speculative selling ahead of the deadline to confirm if Catalonia declared the independence and also with EUR cross-selling effect, Germany wholesale price index higher than expect (0.6% vs cons 0.4%) have little impact on Eurozone Aug trade balance and US Empire State Manufacturing Index also have some intraday impact, support at 1.1720 and 1.1770 with resistance at 1.1880 and 1.1910; today prefer in range trading with tight stop strategy.

USD/JPY lower slightly on some YEN cross-selling earlier but Nikkei higher will still support the pair and polls show Abe will win more than 300 seats in lower house election will give more support for the pair in short-term, today US Empire State Manufacturing Index and stock/bond market move will have some intraday impact, support at 111.50 and resistance at 112.25; today prefer in range trading with tight stop strategy.

GBP/USD retrace slightly earlier on broad USD strength and EUR lower effect, this week UK inflation data the focus and today no UK data and expect movement follow broad USD direction, support at 1.3250-60 and resistance at 1.3350-60; today prefer in range trading with tight stop strategy.

USD/CHF higher slightly on EUR weakness and some replacement of EURCHF effect, overall steady move and risk sentiment rather stable in short-term will see more broad USD reaction to the pair, today US Empire State Manufacturing Index and stock/bond market move will have some intraday impact, still prefer in range trading with tight stop strategy.

EUR/JPY lower on both EUR and USDJPY legs down gradually despite steady stock market performance, some risk trades profit-taking ahead of deadline to confirm if Catalonia declare independence today and fewer data will still drive the cross in the sluggish move, later US Empire State Manufacturing Index and stock/bond market move will direct the intraday action, support at 131.50 and resistance at 132.50; today prefer in range trading with tight stop strategy.

EUR/GBP pullback after fails to overcome 0.9 handles last week and some EUR cross-selling ahead of deadline to confirm if Catalonia declare independence for today effect, overall the cross still on the base building process and today Eurozone trade balance and US data might have small intraday impact, support at 0.8850 and resistance at 0.8910; today prefer in range trading with tight stop strategy.

GOLD higher on some speculative demand ahead of deadline to confirm if Catalonia declare of its dependence as well as some USD weakness effect, today US Empire State Manufacturing Index and stock/bond market move will have small intraday impact, support at 1295 and resistance at 1315; still prefer buying on dips with tight stop strategy.

SILVER higher in the same direction of GOLD and broad USD weakening slightly also support silver, today US data and stock/bond market move will have small intraday impact, support at 17.2 and resistance at 17.7; today prefer in range trading with tight stop strategy.


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