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FX Daily Majors

Today’s highlights: AUDUSD’s collapse has extended to retest the .8658 low for the year.

EURUSD: Trend-following tools remain deep in bearish gears, so sell into fading rallies remains a main theme.

Over the past month the Scandinavian crowns, NOK and SEK, are down by around 3.5% vs the USD,

AUDUSD underperformed, dropping to 0.8680 before finding support.

In the US focus turns to ISM manufacturing for September.

The pair started the session today at $0.8747 and spent the initial few hours in a $0.8745/49 range,

German bonds continued to rally yesterday, with the 10-year yield down another 2bp.

Fresh 8 month lows overnight saw gold come close to the 2014 low with overall focus

The pair started this morning’s session at $1.2631 after trading a high of $1.2635 last night during the US trading hours.

The rally that dominated for the majority of last week came to an end on Tuesday

The pair closed in NY Tuesday at $1.6212 after rate was pressed to lows of $1.6166 on end month dollar demand,

The period of choppy trading continues for Stoxx50 with it having bounced from