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Currency Analyst since 2010

Dec. 3: MARKET OVERVIEW

USD: supported by the rise in the US bond yields. New York Fed President William Dudley and Vice Chair Stanley Fischer made mostly upbeat comments on the outlook for the US economy. American stock session was very positive. 

Japanese Nikkei: added 0.8% after touching 7-year high earlier.

USD/JPY: the advance paused at the new 7-year high at 119.40.

Oil: Brent crude rose by 0.9% to $71.16. US crude rose more than 1% to $67.67 a barrel after data showed that US crude stocks fell last week.

EUR/USD: consolidates in the negative zone around 1.2370 following the sharp selloff on Tuesday. Watch the euro zone’s PMI indices and retail sales data later in the day.

AUD/USD: set a new 4.5-year low at 0.8380 after the downbeat Q3 GDP surprise (+0.3% versus +0.7% expected and +0.5% in Q2). China Services PMI indices came out slightly better than expected. 

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