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The ECB monetary policy decision is now just come 20 minutes away and ahead of this the EUR/USD is edging a little higher. The earlier low remains in place at 1.0849 and the Euro is just now edging back above 1.0865. This looks like nothing more than Euro short-covering ahead of the ECB decision, which does kind of make sense given the recent downside. The Euro is going to move again once the ECB deliver whatever interest rate reduction they decide upon shortly. The risk of a deeper, 0.50% cut is clearly balanced by that of just 0.25%, or even a very unlikely unchanged outcome. All to be revealed shortly now
Well, you were alerted to something rather strange going on this afternoon in Gold and since then the metal has taken another lurch lower. This time...
The US stock markets have not long reopened for the final trading session of the week. It has been a very modestly higher opening across the board...
Given the reaction in the GBP/USD and the USD/JPY after the US sales data you might easily be forgiven for thinking the EUR/USD should be above 1.05...
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