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  • 6h
    Ole Hansen Ole Hansen
    Funds continued to buy Brent crude oil last week while WTI was sold. Bullish bets increased by 4.6% or 18k lots to 419k lots as the North...
  • Article / Friday at 15:36 GMT

    Does NAFTA spell 'Not Another Failed Trump Action'?

    FX Trade Strategist /
    Does NAFTA spell 'Not Another Failed Trump Action'?
    Only the euro and sterling lost ground against the US dollar in a week dominated by a dysfunctional Trump administration that sparked worries that the president's whole economic agenda could be derailed. Meanwhile, talks to revise the NAFTA treaty got started this past week.
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    Market Predator Market Predator
    Hello Michael. Look at Oil. 3.3% gain on Friday with no data released! Have a great Weekend. 😜
    Sajor Sajor
    What about Mexico? Canada wants, US wants...
    Michael O'Neill Michael O'Neill
    Not enough space to do it justice.
  • Squawk / Thursday at 11:35 GMT
    Head of FX Strategy / Saxo Bank
    ECB Minutes: the first headlines from the release of the ECB minutes include mention of the currency and the risk that the euro might strengthen more than justified from economic fundamentals, a risk of "overshooting" that has the euro immediately trading offered as it suggests that ECB moving guidance to a less accommodative stance in the future will depend on the market not pricing the euro too dearly. The minutes do point to a discussion of an incremental change to forward guidance, but there was also clearly little sense of urgency on a shift in guidance from an inflation perspective as a evidence of a pickup in inflation was seen as lacking.

    Remember that EURUSD was trading around 1.1500 going into the meeting from which these minutes have been issued. The next technical objective for EURUSD looks like the 1.1600 area, while the bull market is not threatened in a more structural way until down in the 1.1500-1.1450 area.
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