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The recovery in risk appetite that began last Friday has continued to develop in the first half of this week. This is ushering in a near-term unwind of USD strength and recovery in equities.
US Retail Sales take the focus for the US this week, but elsewhere there is plenty of inflation and growth data to keep traders on their toes.
Two FOMC speakers with a slightly hawkish lean have supported the USD and weighed on indices. The focus for markets will turn to the views of Fed Chair Powell today.
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