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How Will A Rate Cut And Recession Affect The Dollar’s Reserve Status?
Euro Economic Outlook Is Bleak, But Currency May Still Gain This Week
Japanese Yen Will Hold Its Gains As Long As Risk Dominates
British Pound Dives On UK Recession News – Rebound Potential?
Swiss Franc to Strengthen as Investors’ Temperament For Risk Falters
Canadian Dollar Weakness May Continue, As GDP Expected To Contract
Australian Dollar Losses May Continue As Very Little Support Remains
New Zealand Dollar Faces Increased Selling As Investors ‘Deleverage’

$  -  "However, with the world’s largest economy wading slowly into a recession and interest rate speculation pointing towards the lowest returns from US assets in history, how long can the greenback’s rally last?"

€  -  "After falling nearly 6 percent last week and testing critical support at 1.2500, many are hoping that EURUSD will finally turn higher soon."

¥  -  "Following on a volatile end to an incredibly strong week, Japanese yen traders’ first thought upon the return of liquidity after the weekend should be ‘what is the level of risk sentiment in the market?’"

£  -  "After seeing its biggest intraday decline in at least 37 years amidst recessionary UK GDP figures on October 24, the British pound has potential to rebound somewhat this week, but economic data may not play much of a role in that."

₣  -  "Fading demand for high-yielding assets paired with increased fears of a global recession should continue to fuel bullish sentiment for the Swissie."

C$  -  "The USDCAD would break above the 1.2500 price level for the first time since 2005 as bearish fundamentals would fuel the current dim growth outlook for the Canadian economy."

A$  -  "As expectations continue to decline for global growth the Australian Dollar may continue to trade heavy."

NZ$  -  "The ‘deleveraging’ process has certainly fueled bearish sentiment for the kiwi, and the ongoing weakness in the global equities markets may continue to weigh on the New Zealand currency."

What do you think of this report? Send your comments to jkicklighter@dailyfx.com.

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