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Another sell-off has taken Wall Street to levels not seen since April 2021. The bulls are attempting to rally this morning, but rebounds have struggled recently. Meanwhile, the USD is consolidating.
Major markets are trading with mixed sentiment this morning with a lack of conviction on forex and indices. However, the EUR is sustaining its move higher after gas supplies from Russia through the Nord Stream 1 pipeline resume. The ECB meeting will be in focus later.
A hint of a USD correction was snuffed out into the close yesterday and markets are now focusing squarely on the US inflation data later today. After a disappointing close on Wall Street, US futures are looking to build support again.
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