FX MARKET REPORT 22.01.2021

FX MARKET REPORT 22.01.2021

FX MARKET REPORT 22.01.2021

Daily Commentary
FX MARKET REPORT 22.01.2021
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FX MARKET REPORT 22.01.2021

UK Manufacturing PMI misses estimates with 52.9 in Jan. Services PMI in  the UK contracts to 38.8 in Jan, a big miss. GBP/USD sees fresh supply  and hits daily lows near 1.3660. Eurozone Manufacturing PMI arrives at  54.7 in Jan vs. 54.6 expected. Bloc’s Services PMI stands at 45.0 in Jan  vs. 45.0 expected. The shared currency extends gains fuelled by the  German PMI readings, with EUR/USD fast  approaching the 1.2200 level.  The spot trades at 1.2187, up 0.18% on the day. Dollar Index was up 0.1%  at 90.243, but has dropped 0.6% this week. Some resistance awaits at  1.3680, which capped the pair in early January. It is followed by  1.3745, the previous 2021 peak. Support is at 1.3620, which was a  stepping stone on the way up, followed by 1.3525, a cushion seen last  week. USD/JPY was up 0.2% at 103.66 while AUD/USD was down 0.5% at  0.7728.

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UK Manufacturing PMI misses estimates with 52.9 in Jan. Services PMI in  the UK contracts to 38.8 in Jan, a big miss. GBP/USD sees fresh supply  and hits daily lows near 1.3660. Eurozone Manufacturing PMI arrives at  54.7 in Jan vs. 54.6 expected. Bloc’s Services PMI stands at 45.0 in Jan  vs. 45.0 expected. The…

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