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Forex Fundamental Analysis-08/03/2022


· General mood is “risk off”

· DJIA officially hits “correction” territory

· Commodity currencies benefit from gold and oil gains

What’s Moving

Another interesting session overnight, with big swings seen in currencies on the continued conflict in the Ukraine. The Euro hit its lowest level in 10 months, while the Dollar rallied hard against the CHF. Commodity currencies were supported by continued gains on gold and oil.

Equities saw big losses across all complexes, with the DJIA moving into “correction” territory, while the NASDAQ slid into bear market territory. A correction is a fall of more than 10%, while a bear market is defined as a 20% fall from its 52-week high.


With little in the way of local data in Asia today, expect markets to consolidate and perhaps extend overnight movements. Eyes will remain on the wires for any news on the Ukrainian conflict.

Pivot Points


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