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USD/JPY holds the key to unlock the next big dollar drop

USD/JPY holds the key to unlock the next big dollar drop

Alongside a hold at key resistance in AUD/USD here, USD/JPY is the other major pair that might act as a saving grace for the dollar. The greenback looked to be in dire straits after last week's rout but there is still one key technical level to watch despite the...

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ECB’s Vasle: Core inflation remains high, resilient

ECB’s Vasle: Core inflation remains high, resilient

Until we get to the July policy decision next week, don't expect any change to the tone and rhetoric from the ECB. It will be interesting to see how they go about things next as September is not quite nearly a given in terms of being another rate hike - at least for...

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GBP/USD looks to build on last week’s breakout move

GBP/USD looks to build on last week’s breakout move

The dollar broke down across the board last week and remains in a rough spot, despite the calmer tones so far this week. And GBP/USD is one of the charts that exemplifies that sentiment:GBP/USD weekly chartIn a similar case to the EUR/USD here, the pair also broke...

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EUR/USD stays on the more bullish course for now

EUR/USD stays on the more bullish course for now

One of the key triggers for the dollar rout last week was a break higher in EUR/USD to its highest levels since early last year. And that culminated in a break above 1.1200 as well as a hold above the 200-week moving average (blue line) in the pair:EUR/USD weekly...

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Dollar keeps more mixed so far today

Dollar keeps more mixed so far today

In the big picture, markets are still very much caught in the battle of this narrative. It's all about moving from one data to the next after the US CPI report last week, it was the dollar that broke down - owing much to a run in the technicals as well.That hasn't...

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Market Outlook for the Week of 17 – 21 July

Market Outlook for the Week of 17 – 21 July

The BoC increased interest rates by 25bps last week and left open the possibility of further rate hikes if inflation remains persistent. Although there are indications of a slowdown in inflation for the United States, it is not sufficient to persuade the Fed, so an...

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Italy June final CPI +6.4% vs +6.4% y/y prelim

Italy June final CPI +6.4% vs +6.4% y/y prelim

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...

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European equities open lower to start the new week

European equities open lower to start the new week

Eurostoxx -0.6%Germany DAX -0.4%France CAC 40 -0.8%UK FTSE -0.3%Spain IBEX flatIt's a softer open but nothing that is too outstanding after the strong gains last week. US futures are also looking more tepid, down roughly 0.1% at the moment. It's a relatively quiet...

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Aussie slightly lower after China GDP data earlier

Aussie slightly lower after China GDP data earlier

The antipodeans are the slight laggards as we get into European trading today, with AUD/USD down 0.4% to 0.6810 currently. This comes after the China Q2 GDP data earlier here. While there was a beat in the quarterly estimate, the focus seems to be on the yearly...

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Trade ideas thread – European session 17 July 2023

Trade ideas thread – European session 17 July 2023

Is the dollar rout set to continue? Well, if you look at the charts for EUR/USD, GBP/USD, and USD/CHF, there are strong arguments for that. But in the case of USD/JPY, USD/CAD, AUD/USD, and NZD/USD, perhaps the dollar has managed to find some footing. I'll get into...

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FX option expiries for 17 July 10am New York cut

FX option expiries for 17 July 10am New York cut

There aren't any significant expiries to take note of for today. As such, trading sentiment will continue to revolve around the technicals for the most part. And in the case of FX since last week, dollar sentiment will also play a big role in price action as we get...

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