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BoE Chief Econimist (Hawk) is to Step Down From BoE After June Meeting

Real Time News
  • $WTI Crude Oil has edged higher today, currently trading above the 60.00 level. The commodity had traded in a narrow range below the 60.00 level last week and this week's moves show an attempt at continuing above those levels. $OIL $USO https://t.co/p5Btmy02yo
  • - The 2% inflation goal should not be seen as a cap - ECB should guide on tolerance of inflation overshoot - ECB should not introduce yield curve control - Time to exit PEPP has not yet arrived
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.18% 🇯🇵JPY: 0.15% 🇦🇺AUD: 0.04% 🇨🇦CAD: 0.02% 🇨🇭CHF: -0.02% 🇬🇧GBP: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/4F59HkhNfe
  • ECB's Villeroy: - Not legitimate to debate inflation return in Europe - Causes of inflation increase are temporary - Substantial slack will weigh on medium-term inflation #ECB $EUR
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: France 40: 0.31% Germany 30: 0.19% US 500: 0.09% FTSE 100: -0.13% Wall Street: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/2KKukSjZt6
  • #Gold has rebounded from the one week lows set following today's CPI print, rising from 1,724 to trade near 1,750 before slipping back downwards. The precious metal is now trading just above the 1,740 level. $XAU $GLD https://t.co/7s7Hvro6k9
  • As long as you don't use gasoline or fuel oil, are looking to buy a used car, pay rent or eat food; there is little inflation in the US. Weighting is an interesting thing
  • FDA: J&J vaccine pause likely to be only a "matter of days."
  • The US Dollar has remained weaker following this morning's CPI print. The $DXY is currently trading below the 92.00 level for the first time since March 23rd, at a fresh three week low. $USD https://t.co/Lq4EUP8Gyo
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 2.11% Oil - US Crude: 1.03% Gold: 0.74% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/JNHxwZwMe2
Australian Dollar at Major Crossroads for Two Reasons

Australian Dollar at Major Crossroads for Two Reasons

David Rodriguez, Head of Product
Australian Dollar at Major Crossroads for Two Reasons

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AUDUSD The Australian Dollar is at a potentially significant crossroads, and two key factors suggest a break above $0.9450 would spark a much larger rally.

Trade Implications – AUDUSD: Yesterday we highlighted a major spike in real FX volume as signal that the Aussie was on pace for a major test of key highs, and the pair has thus far failed to break to new peaks. Retail positioning remains near its most net-short AUDUSD since the pair set a number of intermediate peaks over the past three months.

Continued failure at these levels leaves the Aussie set up for a test of major support near $0.9320.

See next currency section: SPX500 - Smooth Sailing Ahead for ‘Unbreakable’ S&P 500

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

Australian Dollar at Major Crossroads for Two Reasons

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