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It is one of those days as the market is keeping quieter considering that there isn’t much to work with from a fundamental perspective. In FX, the technicals are still holding up over the past three weeks so perhaps everyone is looking for a break for now.
We’ll get the BOC later today followed by the ECB and US CPI data tomorrow, so the market will be looking to that to hopefully provide a spark to move.
At least oil is breaking out as it climbs above $70 so that could lead to more meaningful upside in the weeks ahead for the commodity.
Other than that, Treasury yields are keeping more subdued but a lot rests on what the US CPI data has to offer tomorrow. There isn’t much else going on right now.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.