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Currency Market Analysis

Global Themes

EUREuro rebounded on a couple of dovish Fed members spoke and now the chance of a 50bp cut by the FOMC has gone up from 25% last week to 44% today. But as mentioned yesterday, market also suspect ECB to adjust their forward guidance next week. There isn’t much important data tonight except U Michigan sentiment.JPYUSDJPY trading back below 108 and broke key 107.62 Fibo level as William’s comments increased the chance of a 50bp cut by FOMC. Vice Chair Clarida also mentioned about soft inflation and disappointing global data, also helped to push USD lower. There is still abit a week to go before

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