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Session Recap: US Dollar advances while Oil collapses

FXStreet (San Francisco) - The US dollar advanced on Tuesday versus its major competitors as investors remains in wait-and-see ahead of ECB's meeting and US Nonfarm payrolls on Friday. Oil fell more than $3 and pushed down the Canadian dollar too.

The EUR/USD resumed its downtrend after a brief consolidation day on Monday. The pair fell to price below 1.2600 but the pair manages to recover and now it's closing at 1.2630, down 0.43% on the day, having posted a daily high at 1.2703 and low at 1.2571.

According to Valeria Bednarik indicators are "turning south in negative territory after correcting overbought readings." Bednarik points out that below the 1.2880, market "should see the pair extending its decline towards 1.2510, with sellers now probably surging on approaches to the 1.2660 level."

The GBP/USD extended lows to 1.6165 after declining for fourth day in the last five sessions. Currently, GBP/USD is trading at 1.6213, down 0.17% on the day, having posted a daily high at 1.6289 and low at 1.6166.

AUD/USD rises after 3-day slide

The aussie rose against the US dollar for the first time in four days and recovered modestly from 8-month lows. AUD/USD bottomed during the Asian session at 0.8693, above Monday's lows and then bounced to 0.8766 (September 30 high).
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China HSBC PMI: Downward revision hints growth momentum lost - Nomura

According to Nomura, Tuesday's revision lower in China HSBC PMI, is in line with their view that growth momentum has continued to lose steam in September.
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