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

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  • BoE Chief Economist Andrew Haldane To Step Down From The MPC After The June Meeting $GBP
  • #Bitcoin rose to a fresh all time high this morning around the 63,000 level, breaking above the previous high set around 62,000 in mid March. $BTC https://t.co/sj1fjZb1iw
  • US 10yr Treasury yields and the US Dollar have both headed lower in the immediate aftermath of the CPI print. The $DXY dropped from 92.26 to around the 92.10 level and 10yr yields stepped back from above 1.68% to 1.66%. $USD https://t.co/RFiMWfNckX
  • 🇺🇸 Core Inflation Rate MoM (MAR) Actual: 0.3% Expected: 0.2% Previous: 0.1% https://www.dailyfx.com/economic-calendar#2021-04-13
  • 🇺🇸 Inflation Rate MoM (MAR) Actual: 0.6% Expected: 0.5% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2021-04-13
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.49%, while traders in Germany 30 are at opposite extremes with 75.73%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/onTWQ83wu0
  • US 10yr Treasury yields rose to a one week high this morning, briefly testing the 1.70% level before dropping back below 1.68%. The upcoming CPI print may drive another move in Treasury yields. $USD https://t.co/j4vndyVcup
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.08% 🇪🇺EUR: -0.13% 🇳🇿NZD: -0.14% 🇨🇭CHF: -0.28% 🇦🇺AUD: -0.30% 🇨🇦CAD: -0.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/QQP2RQRudx
Key Factors Suggest Euro at Significant Turning Point

Key Factors Suggest Euro at Significant Turning Point

David Rodriguez, Head of Product
Key Factors Suggest Euro at Significant Turning Point

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

EURUSDHeavily one-sided forex positioning warns that the Euro may be near an important turning point versus the US Dollar.

Trade Implications – EURUSD: The retail forex trading crowd is its most net-long the Euro versus the US Dollar since the pair traded near $1.20 through mid-2012. And though sentiment extremes are only clear in hindsight, this coincides with similar extremes seen in professional trader positions as seen through recent Commitment of Traders futures data.

Our Senior Strategist underlines a key cyclical turn window coming up. If the Euro holds above $1.3460 it could very well begin an important reversal versus the US Dollar.

See next currency section: GBPUSD - British Pound Breakdown Might be the Real Deal

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

Key Factors Suggest Euro at Significant Turning Point

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