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IFX Gertrude
post Mar 16, 2017, 04:54 AM
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post Mar 16, 2017, 04:54 AM
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Fed Lifts Benchmark Interest Rate as Confidence in Economy Grows



At the end of its two-day policy review, the U.S. Federal Reserve took a step to tighten monetary policy for the second time in three months.

The 0.25 percentage point hike in the U.S. central bank's overnight interest rate was a move prompted by the steady economic growth, solid and consistent job gains and increasing confidence that inflation will move in accordance with the Fed's target, Fed Chair Janet Yellen said.

The move was also perceived by the market as a strong indication that the Fed is entering a new period where they are looking to return the monetary policy to a more normal condition. Yellen indicated that the shift is due to the growing confidence in the economy's progress, which has grown according to the Fed's expectations in the last few months.

The Fed also retained its outlook for two additional rate hikes this year and three more in the following year, in line with the number of rate increases they penciled in last year.

The FOMC also noted that inflation was nearing the target of 2% and that capex has somehow improved following months of weakness.

However, the Fed did not drop hints regarding its plans to accelerate the rate of monetary tightening.

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IFX Gertrude
post Mar 17, 2017, 02:25 AM
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post Mar 17, 2017, 02:25 AM
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New Zealand Consumer Confidence Ebbs In March - ANZ



Consumer confidence in New Zealand slowed in March, the latest survey from ANZ Bank showed on Friday as its index slipped 1.7 percent to a reading of 125.2.

That follows the 1.0 percent decline in February to 127.4.

However, it remains well above the boom-or-bust line of 100 that separates optimists from pessimists.

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IFX Gertrude
post Mar 17, 2017, 04:45 AM
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post Mar 17, 2017, 04:45 AM
Post #1843
New Zealand Consumer Confidence Ebbs In March - ANZ



Consumer confidence in New Zealand slowed in March, the latest survey from ANZ Bank showed on Friday as its index slipped 1.7 percent to a reading of 125.2.

That follows the 1.0 percent decline in February to 127.4.

However, it remains well above the boom-or-bust line of 100 that separates optimists from pessimists.

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IFX Gertrude
post Mar 20, 2017, 02:38 AM
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post Mar 20, 2017, 02:38 AM
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Fxwirepro: South Korean Won falls in Early Asia on the Back of Lower Than expected Ppi Data



EUR/KRW is currently trading around 1,213 mark.

Pair made intraday high at 1,213 and low at 1,208 levels. Intraday bias remains bullish till the time pair holds key support at 1,208 mark.

A daily close below 1,208 will drag the parity down towards key supports around 1,199, 1,191, 1,184, 1,178 and 1,163 marks respectively.

Alternatively, a sustained close above 1,208 will take the parity higher towards key resistances around 1,219, 1,228, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.

Seoul shares open down 0.20 pct at 2160.32.

Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

South Korea’s February PPI growth m/m decreases to 0.3 % vs previous 1.4 % (revised from 1.3 %).

South Korea’s February PPI growth y/y increase to 4.2 % vs previous 3.9 % (revised from 3.7 %).

We prefer to take long position in EUR/KRW around 1,210, stop loss at 1,205 and target of 1,219.

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IFX Gertrude
post Mar 20, 2017, 04:45 AM
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post Mar 20, 2017, 04:45 AM
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Well-Funded Thai Oil Giants Seek Investments



Thailand's PTT Exploration & Production Pcl and its parent firm have almost $11 billion combined in cash and marketable securities. According to Chief Executive Officer Somporn Vongvuthipornchai, the explorer and production company is prepared to spend from its portion on projects and exploration property to aid declining oil and gas reserves.

PTT E&P is considering early-life producing assets or projects that are sanctioned and ready for development, he said. It is also thinking of working with its parent firm, PTT Pcl, to invest in liquefied natural gas plants, that will help meet Thailand's increasing demand. Proved reserves have declined from the equivalent of 1.1 billion barrels of oil in 2009 to 695 million in 2016. Oil's crash have made deals tough to close last year due to the difficulty in agreeing on long-term values.

Somporn says that there is enough of a consensus now for buyers and sellers to reach a common ground. PTT E&P is using a $50 oil price forecast in 2017 for its investment decisions.

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IFX Gertrude
post Mar 21, 2017, 02:23 AM
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post Mar 21, 2017, 02:23 AM
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Australia House Prices Jump 4.1% In Q4



House prices in Australia advanced 4.1 percent on quarter in the fourth quarter of 2016, the Australian Bureau of Statistics said on Tuesday.

That beat forecasts for a gain of 2.5 percent following the 1.5 percent increase in the third quarter.

On a yearly basis, prices spiked 7.7 percent - again beating estimates for 6.3 percent and up from 3.5 percent in the three months prior.

Melbourne saw the largest through the year at 10.8 percent, followed by Sydney at 10.3 percent.

Attached dwellings prices fell in Perth (1.7 percent), Brisbane (1.3 percent) and Darwin (2.5 percent), while prices rose in all other capital cities.

The total value of Australia's 9.8 million residential dwellings increased A$274.2 billion to A$6.4 trillion.

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IFX Gertrude
post Mar 21, 2017, 06:01 AM
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post Mar 21, 2017, 06:01 AM
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Snap Jumps as its Bags First ‘Buy’ Rating



Snap shares rose after securing its first 'buy' recommendation from a Wall Street analyst, giving the social media tech company a reprieve from the sell-off it has seen since its market debut.

The $3.4 billion IPO initially received strong demand from investors, with the stock posting dramatic gains during the first two days after its official market debut. However, the stock steadily lost footing as investors concerns regarding the Snapchat owner's high valuation and lack of profitability induced doubts of analysts on Wall Street.

Based on the median recommendations of analysts comprised of three categories: buy, sell and neutral, Snap is currently the worst-rated stock among listed U.S. firms with a market cap of at least $20 billion.

But the stock was given a lift by Crespi, Hardt & Co. analyst James Cakmak, who gave the firm its first-ever “buy" rating and put the price target at $25. Its shares traded up 2.09 percent at $19.96 in midday trading.

In a report, Cakmak said that Snap is perceived as a firm with the potential to speed up its rate of revenue growth by seven fold. It is also projected with a sharp margin trajectory, while its peers have most likely reached their peak already.

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IFX Gertrude
post Mar 22, 2017, 02:12 AM
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post Mar 22, 2017, 02:12 AM
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Japan Has Y813.389 Billion Trade Surplus



Japan had a merchandise trade surplus of 813.389 billion yen in February, the Ministry of Finance said on Wednesday.

That surpassed expectations for 807.2 billion yen following the downwardly revised 1,087.9 billion yen deficit (originally -1,086.9 billion yen) in January.

Exports jumped 11.3 percent on year, beating forecasts for 10.1 percent following the 1.3 percent gain in the previous month.

Imports added an annual 1.2 percent, missing expectations for 1.3 percent and down from 8.5 percent a month earlier.

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IFX Gertrude
post Mar 22, 2017, 05:32 AM
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post Mar 22, 2017, 05:32 AM
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Gold Prices Steady as Stocks Decline on Trump Agenda Concerns



Gold prices held strong, near 3-week peaks it notched the previous session, bolstered by the dollar's weakness while Wall Street tumbled on doubts over U.S. President Donald Trump's economic policy.

Spot gold edged up 0.1 percent at $1,245.21 an ounce, it reached its strongest since March 2 at $1,247.60. U.S. gold futures settled 0.1 percent lower at $1,245.60. Holdings of SPDR Gold Trust increased by 0.50 percent to 834.40 tonnes from 830.25 on Monday.

Russia's biggest gold producer, Polyus, has finally agreed to sell it 82.34 percent stake in a joint venture with Polymetal, which holds rights to develop the Nezhdaninskoye gold deposit. Hong Kong's net gold exports to Switzerland reached its highest in February since records started five years ago, according to the Swiss customs bureau. Overall shipments from the territory more than doubled to a three-month peak.

Intercontinental Exchange (ICE) delayed the launch of clearing for London's benchmark gold price since all of the participants in the auction remain unprepared, according to two sources familiar with the topic.

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IFX Gertrude
post Mar 23, 2017, 03:25 AM
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post Mar 23, 2017, 03:25 AM
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Fxwirepro: Taiwanese Dollar Trades Marginally Higher ahead of Taiwan’s Interest Rate, Industrial Production Data



USD/TWD is currently trading around 30.45 marks.

It made intraday high at 30.51 and low at 30.39 marks.

Intraday bias remains neutral till the time pair holds key resistance at 30.57 marks. A daily close above 30.47 will drag the parity up towards key resistances around 30.57, 30.72, 30.90, 31.02, 31.15, 31.26, 31.78, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.

On the other side, key support levels are seen at 30.35, 30.24 and 30.05 marks respectively.

Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

Taiwan will release industrial production data at 0800 GMT and interest rate decision at 0830 GMT.

We prefer to take long position in USD/TWD only above 30.57, stop loss at 30.35 and target of 30.97.

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IFX Gertrude
post Mar 23, 2017, 05:02 AM
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post Mar 23, 2017, 05:02 AM
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ECB to Thwart Any Move to Lure British Banks Post-Brexit



The European Central Bank will counter any efforts to begin a race to the bottom on financial rules as European states scramble to lure companies away from Britain after its exit from the European Union.

ECB board member Sabine Lautenschläger said Wednesday that any entity that intends to transfer to the eurozone must meet their requirements, regardless of whether it comes from the United Kingdom or other European country.

Lautenschläger cautioned any financial institutions seeking to circumvent rules to keep rendering banking products and services without a passport should revise their plans. She said they prioritize having secure and stable banks.

The ECB official recognized UK-based banks are experiencing challenges to obtain a new license in the EU, saying the central bank would become accommodating in terms of approving methodologies used by banks in evaluating capital requirements and risks.

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IFX Yvonne
post Mar 24, 2017, 04:12 AM
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post Mar 24, 2017, 04:12 AM
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Bitcoin Stands at $1,000 on Woes about Digital Currency's Future



Bitcoin steadied at $1,000 following it slumped in the previous session, as traders mull over the certainty of the technology behind the digital currency.

The cryptocurrency gained 1.2% on Thursday, trading at $1,049.20. It previously traded at $997.

Traders are still digesting the prospect of establishing another trading venue for the digital currency, the SEC's rulings on bitcoin ETFs, and China's crackdown on exchanges.

In the first week of this year, bitcoin surged 20% before losing 35% despite apprehensions China was poised to curtail trading. It then soared 75% between mid-January and mid-March.


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IFX Gertrude
post Mar 27, 2017, 02:50 AM
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post Mar 27, 2017, 02:50 AM
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Japan Corporate Service Prices Rise 0.8% In February



Corporate service prices in Japan were up 0.8 percent on year in February, the Bank of Japan said on Monday.

That exceeded forecasts for 0.5 percent, which would have been unchanged from the January reading.

On a monthly basis, prices added 0.3 percent after sliding 0.5 percent in the previous month.

Among the individual components, prices were up for advertising services, transportation, communications and real estate.

Prices were down for leasing and rental.

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IFX Gertrude
post Mar 27, 2017, 03:40 AM
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post Mar 27, 2017, 03:40 AM
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HNA Group to Buy Stake in Old Mutual U.S. Unit



Chinese travel-to-financial services conglomerate HNA Group has agreed to purchase a 25 percent stake in Old Mutual Plc's U.S. asset management unit for around $445 million. Old Mutual will then trim its stake in OM Asset Management to 26 percent, lower from 51 percent.

The financial services conglomerate is selling its holdings in OMAM to HNA Group in two tranches, according to a statement from Old Mutual. The first, which consists of 9.95 percent at $15.30 a share, will be completed within 30 days while the following 15 percent stake at $15.75 will take place in the second half, the UK-based company said. The Hainan-based conglomerate has invested in financial services as part of its effort to expand its portfolio beyond tourism and aviation. The stake is the latest in HNA's $30 billion haul of deals since 2016.

Old Mutual has received several offers to purchase a part of its stake in OMAM, which includes TPG and Advent. HNA Group is also leading a deal to procure Manhattan's 245 Park Ave. for $2.21 billion, according to two people with knowledge of the talks.

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IFX Gertrude
post Mar 27, 2017, 03:40 AM
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post Mar 27, 2017, 03:40 AM
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HNA Group to Buy Stake in Old Mutual U.S. Unit



Chinese travel-to-financial services conglomerate HNA Group has agreed to purchase a 25 percent stake in Old Mutual Plc's U.S. asset management unit for around $445 million. Old Mutual will then trim its stake in OM Asset Management to 26 percent, lower from 51 percent.

The financial services conglomerate is selling its holdings in OMAM to HNA Group in two tranches, according to a statement from Old Mutual. The first, which consists of 9.95 percent at $15.30 a share, will be completed within 30 days while the following 15 percent stake at $15.75 will take place in the second half, the UK-based company said. The Hainan-based conglomerate has invested in financial services as part of its effort to expand its portfolio beyond tourism and aviation. The stake is the latest in HNA's $30 billion haul of deals since 2016.

Old Mutual has received several offers to purchase a part of its stake in OMAM, which includes TPG and Advent. HNA Group is also leading a deal to procure Manhattan's 245 Park Ave. for $2.21 billion, according to two people with knowledge of the talks.

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IFX Gertrude
post Mar 28, 2017, 02:49 AM
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post Mar 28, 2017, 02:49 AM
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South Korea GDP Bumped Up To 0.5% In Q4



South Korea's gross domestic product expanded a seasonally adjusted annualized 0.5 percent on quarter in the fourth quarter of 2016, the Bank of Korea said in Tuesday's revised reading.

That was moved up from 0.4 percent in January's preliminary reading and was unchanged from the three months prior.

On a yearly basis, GDP was revised up to 2.4 percent from January's 2.3 percent. In the third quarter, GDP had expanded 2.6 percent.

For all of 2016, GDP was moved up to 2.8 percent - up from 2.7 percent in the preliminary read and from 2.6 percent in 2015. The growth in real GDP was mainly due to increases in private and government consumption, and the expansion of construction investment growth.

The growth of facilities investment meanwhile shifted to negative.

Real gross national income climbed 4.0 percent on year.

Agriculture, forestry & fishing fell 2.9 percent in 2016, mainly due to deteriorating weather conditions.

Manufacturing jumped 2.3 percent. While transportation equipment contracted, the growth in petroleum & chemical products and electrical & electronic equipment expanded.

Construction advanced 10.5 percent. While civil engineering fell 1.9 percent, residential & non-residential building construction increased.

Services showed a slower expansion of 2.3 percent. While the growth in wholesale & retail trade and transportation & storage expanded, the growth of finance & insurance showed a sluggish growth rate.

Private consumption gained 2.5 percent in 2016, with increases in the consumption of non-durable and durable goods.

Gross fixed capital formation climbed 5.2 percent. Construction investment gained 10.7 percent, mainly owing to the growth in residential building construction.

Facilities investment lost 2.3 percent, driven by investment in machinery and transportation equipment. Intellectual property products investment was up 2.3 percent.

Exports of goods & services went up 2.1 percent, as the exports of semiconductor and chemical products increased

In 2016 gross domestic product at current prices rose 4.7 percent to 1,637.4 trillion won. GNI per capita in US dollar terms marked a year-on-year increase of 1.4 percent to $27,561 in 2016.

The GDP deflator climbed 1.8 percent in 2016.

The gross saving ratio picked up 0.2 percentage point, from 35.6 percent in 2015 to 35.8 percent in 2016. The gross domestic investment ratio gained 0.4 percentage point, from 28.9 percent to 29.3 percent.

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IFX Gertrude
post Mar 28, 2017, 03:11 AM
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post Mar 28, 2017, 03:11 AM
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Fed Official Says Firmer Inflation Needed for Four Rate Hikes in 2017



Inflation is not that strong and it would need a firmer lift for four raise interest hikes in America this year, according to a Federal Reserve official policymaker.

When asked whether he saw a formidable case for an additional rate increase in 2017, Chicago Fed President Charles Evans said Monday he is not confident and that he does not see the figures. He added a much firmer inflation would entail a crucial rise in long-term inflation projections.

Evans did not indicate when he believed the Fed would begin slashing its balance sheet. But he noted there was an ongoing discussion about the timing and the rate of rolling out assets, saying it should be done in a controlled and disciplined manner.

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IFX Gertrude
post Mar 29, 2017, 02:36 AM
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post Mar 29, 2017, 02:36 AM
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Japan Retail Sales Gain 0.2% On Month In February



Retail sales in Japan were up a seasonally adjusted 0.2 percent on month in February, the Ministry of Economy, Trade and Industry said on Wednesday.

That missed forecasts for 0.3 percent but was unchanged from the January reading following a downward revision from 0.5 percent.

On a yearly basis, retail sales added just 0.1 percent - again shy of expectations for 0.7 percent and down from 1.0 percent in the previous month.

Sales from large retailers sank an annual 2.7 percent versus forecasts for a fall of 1.8 percent after sliding 1.1 percent a month earlier.

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IFX Gertrude
post Mar 30, 2017, 03:11 AM
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post Mar 30, 2017, 03:11 AM
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Wall Street Finished Mostly Higher as Brexit Process Eyed



U.S. equities ended mostly higher, as energy led gains, while investors priced in recent economic data and the beginning of the U.K.'s exit from the European Union. Strength in the energy and consumer sectors counterbalanced losses in financial shares while investors also looked ahead to first-quarter earnings season.

The Dow Jones industrial average slipped 0.2 percent at 20,659.32, as UnitedHealth led losses while Chevron was the top gainer. The S&P 500 climbed 0.11 percent at 2,361.13, with energy leading five sectors up while financials lagged behind. The Nasdaq composite advanced 0.38 percent at 5,897.55.

The energy sector was up 1.2 percent after Energy Information Administration data revealed a smaller-than-expected crude inventory build. The consumer discretionary sector climbed 0.6 percent, with retailers like Kohl's and Nordstrom soaring. Shares of Amazon.com gained 2.1 percent to notch an all-time peak, providing the largest lift to the S&P 500 and Nasdaq. Financial shares retreated 0.5 percent a day after leading the rally.

Among stocks active on corporate news, Vertex Pharmaceuticals surged 20.5 percent after its cystic fibrosis treatment was a success in a study. The stocks lifted the S&P and helped propel the Nasdaq Biotechnology index to climb 0.9 percent.

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IFX Gertrude
post Mar 30, 2017, 03:46 AM
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post Mar 30, 2017, 03:46 AM
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Fxwirepro: Usd/thb Rejects Key Resistance at 34.55 After Bot Kept Interest Rate Steady



USD/THB is currently trading around 34.48 marks.

It made intraday high at 34.49 and low at 34.41 marks.

Intraday bias remains neutral till the time pair holds key resistance at 34.55 mark. On the top side, key resistances are seen at 34.55, 34.61, 34.72, 34.85, 34.97, 35.11, 35.20, 35.32, 35.42, 35.62, 35.74, 35.84, 35.93, 36.01, 36.08 and 36.39 marks respectively.

Alternatively, a daily close below 34.41 will drag the parity down towards key supports around 34.32, 34.20 and 34.01 marks respectively.

Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

We prefer to take short position in USD/THB only below 34.41, stop loss at 34.55 and target of 34.32.

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