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US Dollar surrenders gains near 96.10

FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, has reverted the initial promising start and is now heading lower towards session lows around 96.15/10.

US Dollar upside halted near 96.50

The index has climbed as high as 96.50 during the European morning, although the upside run out of steam soon afterwards as risk-off trends lost momentum. Nothing worth mentioning in the US docket, with Mortgage Applications rising 13.9% in the week ended on September 18th and the flash Markit’s Manufacturing PMI due later, expected at 53 for the current month.

In addition, Atlanta Fed D.Lockhart will give another speech later in the day, although market participants expect the tone to be in line with earlier speeches.

US Dollar levels to consider

At the moment the index is losing 0.11% at 96.17 with the immediate support at 94.06 (low Sep.18) ahead of 93.72 (low Aug.26) and finally 93.25 (low Aug.25). On the flip side, a break above 96.53 (high Sep.4) would target 97.07 (high Aug.19) en route to 97.33 (high Aug.12).

Gold strengthens along with European stocks

Gold prices strengthened on moderate weakness in the USD, while the European stocks stood tall after erasing early weakness.
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USDCAD: Strategic downside pressures building up - TDS

Ned Rumpeltin, European Head of Currency Strategy at TD Securities, suggests that the main event risk for USDCAD today will be retail sales and our above-consensus expectation and below consensus expectation for headline and core sales respectively will likely leave USDCAD stuck in the recent range but on the margin point to some downside.
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