EUR/USD leaps to daily highs near 1.0760
The softer tone in the greenback has now picked up extra pace, lifting EUR/USD to fresh daily highs near 1.0760.The pair is testing the upper end of the recent range in the mid-1.0700s bolstered by the broad-based selling bias around the buck.In addition, auspicious results from the euro area showed higher-than-expected inflation figures for the current month, while the bloc is seen expanding more than estimated in Q4 and the unemployment ticked lower in December, all adding to the stronger EUR.Furthermore, EUR remains supported by speculative positioning, as net shorts have been trimmed to levels last seen in late May during the week ended on January 24, as per the latest CFTC report.Data wise in the US economy, Q4 Employment Cost Index is due, seconded by the S&P Case-Shiller Index, Chicago PMI and Consumer Confidence measured by the Conference Board.The pair is now gaining 0.61% at 1.0760 facing the next up barrier at 1.0775 (high Jan.24) ahead of 1.0798 (high Dec.5) and then 1.0820 (50% Fibo of the November-January drop). On the other hand, a breakdown of 1.0650 (20-day sma) would target 1.0617 (low Jan.30) en route to 1.0589 (55-day sma).

GBP/USD breaches 1.2500 post-UK data
The British Pound has turned negative on Tuesday, with GBP/USD quickly breaking below the key barrier at 1.2500 the figure.The pair keeps correcting lower today after UK releases showed BoE?s Consumer Credit dropped to ?1.04 billion in December and Net Lending to Individuals decreased to ?4.8 billion during the same period.Further data showed Mortgage Approvals expanding less than expected by 67.9K in the last month of 2016 and M4 Money Supply has contracted at a monthly 0.5% in December.Spot has quickly broken below 1.2500 and is now testing lows in the mid-1.2400s in the wake of the releases and amidst a tepid recovery in the US Dollar.Recall that GBP has been recently supported by speculative positioning, with net shorts retreating to 4-week lows during the week ended on January 24, along with declining Open Interest.Data in the US docket today includes Q4 Employment Cost Index, seconded by the S&P Case-Shiller Index, Chicago PMI and Consumer Confidence measured by the Conference Board.As of writing the pair is retreating 0.29% at 1.2450 facing the immediate support at 1.2419 (55-day sma) followed by 1.2359 (20-day sma) and then 1.2250 (low Jan.19). On the flip side, a break above 1.2604 (high Jan.30) would aim for 1.2614 (high Jan.27) and then 1.2680 (high Jan.26).

AUD/USD negative bias persists below 0.7648 Commerzbank
The negative stance on the Aussie dollar remains intact while below 0.7648, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.?AUD/USD?s high of .7608 was not been confirmed by the daily RSI and the market has basically been held sideways to slightly lower, but it has not sold off and currently we suspect it is attempting to stabilise ahead of tackling the .7648 2013-2016 downtrend. Only above .7648 will negate our negative bias and introduce scope to the .7778/.7850 2016 highs and the 38.2% retracement?.?Currently the market?s dip lower is indicated to terminate circa .7505/.7435. We suspect that prices will need to go sub 7400, the 55 day ma, to alleviate upside pressure and trigger losses to .7312/00 then .7161/64, the recent lows?.

USD/JPY: Sell the rallies on Trump-led risk-off, Fed eyed
Ever since the US President Trump signed the executive order on travel ban for the nationals of some Islamic States, the USD/JPY pair is on a downward spiral.The major witnessed a massive sell-off from near mid-115 handle to 113.25 levels as it faced a double blow. Markets dumped the US dollar across the board and flocked to the safe-haven yen as risk-aversion remained the main underlying theme so far this week, in wake of growing uncertainty over Trump?s policy decisions.The latest leg down in USD/JPY was mainly driven by a renewed risk-aversion wave triggered after Trump fired the acting Attorney General Yates. While BOJ?s status-quo and Kuroda?s presser had limited impacted on the pair.During the European session, the spot made a solid comeback and rallied to test 114 handle, in response to a sharp recovery in the risk sentiment after the European stocks edged higher and treasury yields turned positive. The US dollar trades broadly muted around 100.40 levels.Heading into the FOMC decision due tomorrow, any recovery in the major appears short-lived as risk sentiment remains the key drivers amid Trump?s policy announcement. While Fed may also sound slightly cautious in its outlook on the US economy in wake of the Trump presidency.

Gold holds in positive territory for third straight day
Gold struggled to extend early gains to four-day tops and has now retreated back to $1200 psychological mark, albeit has been able to hold in positive territory for the third consecutive session. Currently trading around $1198 region, positive European equity markets are pointing to investors' appetite for riskier assets and weighed on the precious metal's safe-haven appeal. Adding to this, a rebound in the US treasury bond yields lent some support for a modest US Dollar recovery and further dented demand for dollar-denominated commodities - like gold.Meanwhile, Friday's executive order by the US President Donald Trump, to restrict immigration from seven Muslim-majority countries and subsequent dismissal of Sally Yates, continues to fuel concerns over his protectionist stance. Growing worries over Trump's policies might trigger a fresh wave of risk-off trade across global financial markets and bolsters assets viewed as traditional safe-havens, including gold, and might limit any immediate sharp downslide.Immediate support is pegged near $1195 level below which the commodity is likely to head towards $1190-89 horizontal support ahead of two-week lows support near $1181 level. On the upside, follow through buying interest above session peak resistance near $1203 level, leading to a subsequent move above $1205 region, is likely to accelerate the up-move towards $1209-10 intermediate hurdle, en-route two-month highs resistance near $1217-19 area.

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