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Hard data, soft dollar – Live Market Open

The US dollar suffered some kind of a setback following the mixed durable goods orders. It is losing some of its might. As the week draws to a close, it faces another test, this time with less distractions. As always on Friday, we’ll ...

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UK GDP 0.4% q/q but only 2.0% y/y

A small miss on year over year GDP: 2% instead of 2.1% initially reported and expected. Quarter over quarter, things are bang on expectations at 0.4%. Business investment missed with a fall of 0.5% against 3.2% expected. Also the BBA’s mortgage approvals did not meet expectations by sliding to 40.1K against 44.8K predicted. ...

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BOC not too dovish – USD/CAD falls

As expected, the Bank of Canada leaves rates unchanged at 0.50%. The statement is not extremely dovish. They see current monetary policy as appropriate and do not provide hints of further rate cuts. Regarding the inflation mandate, the BOC sees risks as roughly balanced.  USD...

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Elliott Wave Analysis on GOLD and German DAX

GOLD Gold keeps falling sharply which now looks like an extended five wave drop from 1288 so the whole decline from 1303 is rather impulsive than corrective. We are looking now at wave 3) in progress that may find a support in the near term around 1200-1215 for a short-term recovery ...

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Canadian dollar ready to rock

A better market mood with positive US data helps commodity currencies including the Canadian dollar. The loonie is now in the limelight with a rate decision from the BOC and crude oil inventories. Is the mood too positive for the C$? Is there ...

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Greek crisis: IMF surrenders to Germany – can kicked again

In a late night meeting in Brussels, the IMF surrendered to German demands and agreed that talking about Greece’s debt will actually begin only after the Third Bailout ends in 2018. This is not-by-coincidence after the German elections in October 2017. Germany did not want any debt relief for ...

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EUR/USD to 1.05 and USD/JPY to 1.25 – Goldman Sachs

The team at Goldman Sachs remain dollar bulls and release upbeat targets for the greenback against its major peers. Here is their view, courtesy of eFXnews: Our big picture views are well known. We are Dollar bulls, since we think the 300 bps tightening cycle our US economists forecast ...

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