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  • AUD/USD sharply higher following last week's decline $AUDUSD
  • The US Dollar has put in a very strong push since the Thursday lows – and for traders looking to fade that move, the long side of GBP/USD may be attractive. Get your $GBP market update from @JStanleyFX here:
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.21% Gold: -0.71% Silver: -0.76% View the performance of all markets via
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.57%, while traders in GBP/JPY are at opposite extremes with 66.37%. See the summary chart below and full details and charts on DailyFX:
  • Biden administration to use 'all available tools' to challenge unfair China trade practices, still conducting comprehensive review of trade policy with China - BBG $USDCNH
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  • $USDJPY is hitting fresh multi-month highs today as the pair continues to trade above the 106.50 level. The last time this pair traded at that level was in early August. $USD $JPY
  • $WTI Crude Oil is down over 4% off of today's highs, falling from an intraday high above 62.50 to currently trade right around 60.00, its lowest level since early last week. $USO $OIL
  • 🇧🇷 Balance of Trade (FEB) Actual: $1.2B Expected: $0.9B Previous: $-1.125B
Equities, Oil, Yen Crosses and CAD Rebound as Fear Cools

Equities, Oil, Yen Crosses and CAD Rebound as Fear Cools

John Kicklighter, Chief Strategist

Talking Points:

• The jolt of panic through Wednesday didn't carry over to Thursday's trading session

• An ECB rate decision was top event risk this past session, Global PMIs will top Friday's list

• While event risk may not threaten igniting key themes, Fridays have proven dangerous in 2016

See the DailyFX Analysts' 1Q forecasts for the Dollar, Euro, Pound, Equities and Gold as well as our favorite 2016 trading opportunities in the DailyFX Trading Guides page.

The mood in the market is tense. While the bout of severe risk aversion through Wednesday hasn't been revisited, fear has been a common theme in 2016. Between key technical levels, easily identifiable news targets (global growth, China, slowing revenues, etc), broad correlations and volatility; this is a market that isn't difficult to rouse. In the meantime, the respite has offered an opportunity for some stretched moves to correct under profit taking. Equities, Yen crosses, commodity currencies and oil have all seen a modest counter-trend move. This period of calm should be considered limited with heavy event risk due next week. Calling the ultimate return to trend - whether reversal or reinforcing risk aversion - from this side of the weekend would be very risky. Short-term trades are more appropriate for current conditions. We look at dominant trends and current conditions in today's Trading Video.

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