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With Treasury yields beginning to ease back slightly, the USD bull run has stalled in recent days. The US CPI data today could be the catalyst for the next move.
There has been a big bounce back in the USD today, regaining some of the ground lost over recent weeks. However, much more needs to be seen to signal a decisive shift in the USD corrective outlook.
You can’t move for tier-one data for major economies this week. Manufacturing and services PMIs, Eurozone inflation, the Fed, BoE and RBA rates decisions all come before the week is rounded off by Nonfarm Payrolls.
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