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Commodities Under Correction after Big Gains

Commodities Under Correction after Big Gains

Information is not investment advice

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Midday Market View

European stock markets are trading mixed today, with hope of a prompt Brexit deal helping the UK market outperform, while increasing tensions between China and the US market still awaits more details for the new US stimulus.

Midday Key Point

  • BOE's Ramsden supports that Bank of England does not plan for negative rates.
  • Dollar continues to keep firmer on the day, all eyes on the US jobs report later.
  • China says TikTok and WeChat are in compliant with US laws and international regulations.

Similar

USD/JPY: target for selling

The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.

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