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Forex Flash: UK PPI and CPI wont be market movers – Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that the UK releases PPI and CPI data, which won’t have a huge FX impact.

He writes, “I still think short GBP/USD is a better trade than short EUR/USD at the moment, but there are no obvious drivers today. Nor was there any significant data in Australia where business confidence recovered marginally, but AUD/USD continues to slip lower. This afternoon in the US, we see only small business confidence, with tomorrow’s retail sales are bigger market factor.”

Forex Flash: EU FinMins meet as Fra/Ger split may prevent common stand – Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that EU Finance Ministers continue their meetings today, but comments from the ECB’s Jen Weidmann reinforced the sense that a Franco-German difference of opinion will prevent any kind of common stand on currency policy.
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Forex: GBP/USD threatening 1.5600

The sterling is accelerating its descent on Tuesday, now challenging the key support at 1.5600 ahead of UK data....
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