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Little reaction in USDCAD
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Crude oil dips on this headline
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EURGBP UPDATE
- I gave an alert to watch this cross for month end flows and you can see one that has weighed on the EURUSD.while giving support to GBPUSD
- See now if EURUSD can find a foor if EURGBP holds above .8787.. More sigificant support at 8778.
- Still about 1-1/2 hours to the 4PM London fix
EURGBP 30 MINUTE CHART
Newsquawk US Stock Specifics
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EURUSD UPDATE
- Trading to a near 3 month low with just 1.1527 standing in the way of 1.1500 (psychological) and 1.1390 (chart)
- Back above 1.1541-47-50 needed to slow the risk.
- Hard to draw conclusions from end of month trading but unless 1.1550+ is regained, EURUSD will be on the defensive.
- Selling pressure appears to be coming out of some crosses… EURJPY and EURGBP
EURUSD DAILY CHART
Thinking inside the Fed
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UBS inches toward historic move to leave Switzerland — as it’s wooed by Trump administration: sources
Swiss banking giant UBS continues to inch toward moving its headquarters to the US, a drastic and historic move that’s borne of outsize regulatory burdens in its home country – and aggressive wooing from the Trump administration, On The Money has learned.
The latest sign that Switzerland’s biggest bank is on the way out of its home of 162 years came Monday, when it applied for a US national bank charter. UBS has a strong wealth management unit here and could offer many more services through its brokerage arm. That, in turn, could expand UBS’ US footprint well beyond the nearly 6,000 advisers already here….
Newsquawk Daily US Equity Opening News
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US to attack sites in Venezuela?
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>NAS100 (NASDAQ) UPDATE
- NAS retracement got an after hours reprieve yesterday from Amazon and Apple earnings reports.
- Recent history has been that retracements have been followed by new NAS highs so watch to see whether the 26276 record high holds or not.
In the meantime, range is 25731-26276, tighter so far today at 26006-26169, suggesting 26000 will act like a pivot.
NAS100 1 HOUR CHART
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Newsquawk Daily US Opening News
XAUUSD (GOLD) UPDATE
- Bullish pattern off the 3886 low working out but pause below the magic 4050 level (also chart resistance) at 4046 has cooled the move and left 4000 as clearly pivotal in setting the tone.
- Range around it: 3955/60 – 4046/50
- 3989 needs to hold to prevent the bottom of the range being exposed
- Above 4046-50 would extend the bullish pattern
XAUUSD 1 HOUR CHART
Forex Market Snapshot
- The dollar is holding firm heading into month end with the commodity currencies (CAD, AUD, NZD) weaker and others consolidating after falling vs, the dollar yesterday.
- Keep an eye on EURGBP (currently bid) as it tends to be active at month end.
- One theme that has been emerging is central bank’s converging policies towards caution over cutting rates.
- Note US turns clocks back one hour over the weekend.
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