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Global FX Insights

Takeaways into Thursday

Next 24 hours: Market still digesting Wednesday updates

Today’s report: Takeaways into Thursday

The two big events driving markets into Thursday have been the latest US inflation data and the Fed decision. On net, we think we’re seeing a bigger reaction to the softer US CPI read, which the market believes will translate to dovish tweaks from the Fed going forward.   read report

Wake-up call

Next 24 hours: Currencies remain under pressure against the Buck

Today’s report: Will USD demand cool ahead of tomorrow's event risk?

The fact that the latest CFTC data revealed a sixth weekly build in long Euro positions wasn’t going to do anything to help the single currency’s cause, with the market using this as more fuel to justify aggressively selling the Euro on the back of the much stronger US jobs report and political uncertainty from the European election results.   read report

Wake-up call

Next 24 hours: ECB cuts rates as expected

Today’s report: Back to pricing two full Fed rate cuts in 2024

Softness in the latest US ADP employment report has further emboldened investors to price in more rate cuts than less from the Fed in 2024. At the moment, we’re back to an expectation of just about two full rate cuts this year.   read report

Wake-up call

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