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US Dollar rally eases slightly as markets assess Fed policy outlook
The US Dollar (USD) weakens slightly on Thursday ahead of a more busy day in terms of US data releases, with the Purchasing Managers Indices (PMI) data for October as the main event.
USD/JPY: Upward momentum remains strong - UOB Group
Upward momentum remains strong; the next level to monitor is 153.40, followed by 154.00, UOB Group's FX analysts Quek Ser Leang and Lee Sue Ann note.
Still only limited potential for the CNY - ING
After the Chinese renminbi almost slipped below 7 against the US dollar in the wake of the stimulus announcements at the end of September, the euphoria subsided considerably in October.
Pausing to reassess the 'Trump Trade' - DBS
This month's USD recovery driven by the "Trump Trade" risks becoming over-extended.
NZD/USD: Has the chance to decline towards 0.5985 - UOB Group
Oversold decline could extend to 0.5985 before stabilisation can be expected.
BRICS: De-dollarisation is on its way - ING
BRICS will probably have the most room to progress their de-dollarisation agenda in the areas of reserve management and energy trade invoicing, ING's Chris Turner notes.
NZD/USD Price Forecast: 0.6000 acts as key support
The NZD/USD pair bounces back from the psychological support of 0.6000 in Thursday's European session.
Forex Today: Japanese Yen selling pauses, market attention shifts to PMI data
Here is what you need to know on Thursday, October 24: After suffering large losses against its major rivals on Wednesday, the Japanese Yen (JPY) stages a rebound early Thursday.
AUD/USD: Support at 0.6585 is likely out of reach for now - UOB Group
Strong momentum indicates further Australian Dollar (AUD) weakness; the significant support at 0.6585 is likely out of reach for now.
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Thursday, according to FXStreet data.
CEE: Closer to the election, more pressure on EM - ING
Once again the calendar has little to offer today except consumer confidence in the Czech Republic.
EUR/USD finds temporary support even though Eurozone economic activity contracts again
EUR/USD finds fresh buying interest near a three-month low of 1.0760 in Thursday's European session.
EUR: To trade in the 1.0765-1.0850 range short term - ING
With inflation in abeyance and business confidence low, this is fertile ground for the ECB doves, ING's Chris Turner notes.
AUD/JPY inches lower to near 101.00, downside risk seems restrained due to hawkish RBA
AUD/JPY breaks its three-day winning streak, trading around 101.20 during the European hours on Thursday.
GBP/USD: Can decline further to 1.2860- UOB Group
The Pound Sterling (GBP) could continue to weaken; oversold conditions suggest 1.2860 is likely out of reach for now.
USD: Dollar dodges Beige Book bullet - ING
The previous release of the Beige Book warned that nine of the Fed's 12 districts saw flat or declining activity and was thought to have prompted the 50bp Fed cut in September.
EUR/USD: EUR must break below 1.0740 to continue to decline - UOB Group
The Euro (EUR) is expected to trade in a range between 1.0760 and 1.0810.
AUD/USD recovers further from over two-month low, climbs above mid-0.6600s on softer USD
The AUD/USD pair builds on its steady intraday ascent through the first half of the European session on Thursday and recovers further from its lowest level since August 16, around the 0.6615-0.6610 region touched the previous day.
Mexican Peso reverses in technical bounce and revival of carry
The Mexican Peso (MXN) edges higher on Thursday following a reversal on Wednesday, in which it first fell to a one-month low against the US Dollar (USD) but then reversed - partly due to technical buying - and recovered by an average of about half a percent in its most heavily-traded pairs - the USD/MXN, EUR/MXN and GBP/MXN.
UK Preliminary Services PMI slips to 51.8 in October vs. 52.2 expected
The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers' Index (PMI) eased to 50.3 in October from 51.5 in September.
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