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Session Recap: USD weakness persists

FXStreet (Córdoba) - Broad-based USD weakness remains the theme of the day while global equities rise after the FOMC minutes came in more dovish than expected.

Meanwhile in Europe, the German trade surplus disappointed while the Bank of England decided to keep its monetary policy on hold.

EUR/USD rose toward 1.2800 before running out of momentum while GBP/USD regained the 1.6200 level but lacked follow-through. USD/JPY extended its correction and hit a fresh 3-week low of 107.60. AUD/USD faltered ahead of the 0.8900 level as USD/CAD consolidates right above 1.1100.

Dovish FOMC minutes added pressure on the greenback that was already in a corrective phase following a 12-week rally versus majors competitors.

During the New York session, US weekly jobless claims are expected to rise to 294K, while August wholesale inventories climb 0.3%, while several FOMC members are expected to make remarks today.

Main Headlines in Europe:


What’s the sentiment around EUR/USD today? – Commerzbank and OCBC Bank

Germany: Trade surplus narrows to €17.5B in August

US Ten-year yield near August lows

Brent Crude Oil in bears’ grip

ECB Monthly Report: ECB ready to take further measures if necessary

Bitcoin gains for the fourth consecutive day

Gold inches closer to resistance

BoE keeps policy unchanged

Poor start to the week for USD/CAD - TD Securities

TD Securities team of analysts observe that the USD/CAD drop from the upper 1.12 area on Monday continued following the release of FOMC minutes on Wednesday, sending the pair below this level.
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United States Initial Jobless Claims came in at 287K below forecasts (294K) in October 3

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