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Market Insight Commentary – Forex
Today's News Headlines
- After all the drama surrounding the tariff situation, it seems as though the US are now prepared to broker a deal with the EU – this administration continues to be full of hot air.
Market Insight Commentary – Indices
Market Recap
After all the talk about inflation breaching the target level of 2% in the US, one would have been excused for believing that the inflation report was set to be a blinder yesterday. Instead the US CPI was disappointing yesterday, although the prices are higher they are contained and I wouldn’t expect that data read to affect the Fed tightening cycle for the rest of the year. The labour market should be on the Feds agenda though as lowering wages will be a massive risk to inflation going forward.
There is nothing much to report in the FX markets, and finding opportunity really is proving to be a difficult task. I am still focusing my attention to both the commodity and index instruments as there continues to be nice intraday opportunities there.
Important Economic Data Due Today
14:30 CAD Employment Change
Consensus: 17K
Effect: Higher than expected is good for the CAD
14:30 CAD Unemployment Rate
Consensus: 5.815
Effect: Lower than expected is good for the CAD
15:15 EUR ECB Draghi Speaks
Consensus: None
Effect: More hawkish than expected is good for the EUR
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