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Culprit for commodity-bloc weakness - BMO Capital Markets

FXStreet (Guatemala) - Stephen Gallo, European Head of Currency Strategy at BMO Capital noted the extent to which commodity bloc currencies have been affected by a particular culprit.

Key Quotes:

"Apart from general weakness in commodity prices, the approaching end of Fed QE and smaller increments of USD liquidity may also be a culprit for commodity bloc currency weakness this week. Both factors could easily be feeding off one another as well."

"This dynamic would at least help explain USD/CAD’s buoyant price action this week which was occurring independently of its main drivers and before the release of yesterday’s weak retail sales print.

EUR/USD, technically, bears can relax - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that technically, the bearish trend seems quite firm in place, albeit both, daily and weekly RSI stand now in extreme oversold territory.
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PBoC Chief to be replaced?

One of the main news making the headlines during the US session was the speculation about People's Bank of China Gov. Zhou Xiaochuan being replaced for a more dovish banker, with the change being attributed to disagreements over fiscal and economic reforms.
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