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Forex Fundamental Analysis-08/02/2022


  • General mood is “risk off” 
  • Japanese Household Spending weaker than expected at -0.2%  
  • Very quiet session on currencies in Asia today 

What’s Moving  

Asia held tight ranges on all of the majors today, with little in the way of offshore incentives and with little major local data or events.  

The only range extensions we saw today was on USD/JPY and the AUD/USD, both higher, but only slightly on position adjustment. Volumes today have been very light.  

With little major on the calendar for tonight, expect U.S. stocks and interest rates to continue to dominate direction.  

Slated for release tonight are: 

  • French Trade Balance (E: -9.1Bln)  
  • Italian Retail Sales (E: -0.4%)  
  • Canadian Trade Balance (E: +2.5bln)  
  • U.S. Trade Balance (E: -83.0bln)  


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