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US equities ended flat to minimal higher, enough to set a new all-time closing high (S&P). Asian equities perform better, maybe helped by a slightly weaker dollar. Japanese equities underperformed for the same reason.

Euro took a hit back under 1.18 mid-week, but sharply recovered in a major USD reversal yesterday, bouncing off its lows around 1.1715. 

Sterling had a roller-coaster ride yesterday. At the BoE independence conference, BoE’s Carrey reiterated that the Bank will support the UK through the Brexit process. Theresa May’s speech did little to hurt or lift the Sterling, as it came back from weekly highs around 1.3450 to settle back to 1.3420 as we opened in Asia today. As the Brexit process rolls on and drags on the reality is that the USD sentiment has a big influence in GBPUSD levels. Tonight, we have Current Account data for the UK just after the London open and also BOE Governor Carney speaking during the US session, so expect much more volatility in the latter session!

Gold has had a volatile week this week, after sharp moves higher and a massive slide back sub-1300. The positioning in GOLD levels will change over the coming few trading days as we approach NFP’s, so watch for a move back to 1286 in case hedging occurs for a weaker US Payroll data number next week.

Bitcoin has traded softly on Thursday after being solidly Bid from $3700 to about $4250 earlier in the trading week.  Momentum can be seen in the 4-Hourly charts, but we have seen already today in early dealing a pretty quick pullback from 4200 to 4100, which is a dangerous signal that we are set for a soft close to today.

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