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  • $USD still holding support in the 93.43-93.73 zone shorter-term, not yet able to pose any meaningful continuation moves, still lower-lows, highs next r level, 94.17 next s level, 93.52 #DXY https://t.co/d5DtqK4xUc https://t.co/ZRCho2lSOi
  • 🇨🇦 Core Inflation Rate YoY (SEP) Actual: 3.7% Previous: 3.5% https://www.dailyfx.com/economic-calendar#2021-10-20
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.80%, while traders in GBP/JPY are at opposite extremes with 74.91%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/rMdHguFejf
  • finally getting some pullback in these Yen trends $AUDJPY tagged the 85.81 level, support potential around 85 prior resistance, then another around 84.25. let's see what this Yen theme is made of https://t.co/QVf7SHffCW https://t.co/RZzrs86xp6
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.20% 🇨🇦CAD: 0.17% 🇦🇺AUD: 0.16% 🇪🇺EUR: -0.08% 🇨🇭CHF: -0.10% 🇬🇧GBP: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/cNnkSEOOMU
  • Heads Up:🇨🇦 Inflation Rate MoM (SEP) due at 12:30 GMT (15min) Expected: 0.1% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2021-10-20
  • Heads Up:🇨🇦 Inflation Rate YoY (SEP) due at 12:30 GMT (15min) Expected: 4.3% Previous: 4.1% https://www.dailyfx.com/economic-calendar#2021-10-20
Top Trading Lessons: Euro and Sterling Shrug Off Brexit Talks Between EU and UK

Top Trading Lessons: Euro and Sterling Shrug Off Brexit Talks Between EU and UK

Martin Essex, MSTA, Analyst

This past year was meant to be the one when both the Euro and especially the British Pound suffered from the tortuous negotiations between the EU and the UK on their post-Brexit relationship. Yet in the event both currencies gained against the US Dollar even though the talks proved to be just as gruelling as expected. Moreover, Sterling largely held its ground against the Euro in the second half of the year despite the common view that GBP would be more at risk than EUR if the two sides ended the year without a comprehensive agreement. So much for received wisdom.

One obvious comment is that in the event attention was focused on the coronavirus pandemic and its numbing impact on the global economy rather than on the EU-UK talks, though they were important too. Yet the safe-haven USD, regarded as the go-to asset when investors are looking to reduce risk, actually eased back not just against EUR and GBP but against a basket of other currencies too. There are several lessons here. It isn’t just that forecasters agreeing on something does not mean it will happen. It is also that hopes – in this case of a swift economic recovery thanks to a Covid-19 vaccine – can outweigh fears as the markets look further ahead and ignore near-term problems.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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