US dollar outperforms while the pound lags
Retail bias back in heavy long territory for both EUR/USD and GBP/USD as greenback strength pushes the pairs’ prices lower

EUR/USD: US dollar outperforms, retail bias jumps to heavy long territories
Germany's 10-year bond auction showed a much higher number of bids made per bid accepted following last month's auction on confirmation that the ECB would be resuming its bond-buying program, and where the interest rate remained negative. There were a couple members of the US Federal Reserve (Fed) speaking, with more set to speak tonight and tomorrow. Overall attention when it comes to US data will be on today's final Gross Domestic Product (GDP) figures for Q3, with expectations for 2% growth. As for the EUR aspect of this pair, items include GfK's and money supply reading, and an afternoon speech out of Frankfurt by the European Central Bank's (ECB) president Draghi. The US dollar lagged the most on Tuesday, and as for Wednesday it clearly outperformed, with signs the pair’s price may break the 1.09 price level. Retail bias is 12% higher, as longs get squeezed and shorts get enticed into taking profit.

GBP/USD: Lagging heavily while the US dollar outperforms
The pound may have topped the FX performance charts on Tuesday, but on Wednesday it lagged the most and as a result suffered significant retracement early on in the session as its price crossed back below its 100-day moving average (MA), with its 50-day MA the last one left to cross. Most of its main technical indicators have shifted back to neutral, with its Directional Movement Index (DMI) still positive and a trending Average Directional Index (ADX). In terms of bias, retail sentiment is 7% higher as shorts here got enticed into closing out and longs hold on. In the background, Brexit political uncertainty persists and hence the pair’s price continues to be prone to breakouts on rumors/news that are Brexit-related.

USD/JPY: Safe haven outperforms but not against the greenback
Equities made fresh lows yesterday early in the session, and although talk of further potential easing out of the Bank of Japan (BoJ) usually puts the currency under pressure, the safe haven aspect enjoyed some strength in the early risk-off play. As equities retraced off the lows however, and it was the US dollar that finished highest, and pushing this pair’s price back closer to its 100-day moving average in the process. A US-Japan limited trade deal certainly helps overall risk appetite, and while there's no Japanese data today, tomorrow's Tokyo CPI will be noted in the context of the central bank's attempt at achieving its 2% inflation target. As for sentiment, retail bias is back in the middle with longs taking profit on yesterday’s gains.

USD/CAD: US dollar outperforms but Canadian dollar not that far off
Oil prices had only as slight red day managing to retrace off the lows, and although the US dollar outperformed, the Canadian dollar was in second and preventing the pair’s price from closing above its 100-day moving average. Most of the pair’s main technical indicators are neutral, and with a non-trending ADX lacking direction. A lack of Canadian data means focus will remain on the USD aspect of this pair, as well as CAD's energy underlying for hints of whether it can successfully break out of its current range-bound movement whereby most of its technical indicators are neutral but huddled together, and hence at risk of an overview shift that can occur with greater ease.

AUD/USD: Dropping alongside the kiwi as negative technical bias persists
Whether Tuesday's boost was a one-off as equities made a move lower seems the likeliest scenario at this stage, as the commodity currency oscillated back down despite Tuesday's relatively more hawkish comments from the Reserve Bank of Australia's (RBA) governor Lowe. And in the absence of any significant data out of Australia prior to the RBA's monetary policy announcement next Tuesday, it's like the greenback, risk appetite, and the commodities market that should be noted prior to initiating a trade in this pair. This pair’s price is back below all its main moving averages, and retail bias is 3% higher and in heavy long territory.

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