The Dollar moved higher following the mix of data, where jobless claims fell slightly more than expected, housing starts were higher than consensus, and the Philly Fed index was better than forecast.

 

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EUR/USD looks south as markets scale back Fed rate cut bets

EUR/USD risks falling below key support at 1.1193 as markets seem to have scaled back expectations of Federal Reserve (Fed) rate cuts in the overnight trade. Technical set up favors the bears.

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GBP/USD: Recovery underway as traders await UK CPI for fresh direction

A minor correction in the US dollar across its main competitors appears to prompt a recovery in GBP/USD from 27-month lows, as the rates hold above the 1.24 handle ahead of the UK CPI data. Hard Brexit woes to remain in play.

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USD/JPY supported by positive S&P 500 futures amid weaker USD

USD/JPY found buyers ahead of the 108 handle amid an uptick in S&P 500 futures, although the recovery appears limited by broad-based USD retreat and mixed Asian equities. Focus on US housing data for fresh impetus.

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UK CPI Preview: Brexit above all else

The monthly change in the consumer price index is expected to be flat in June down from 0.3% in May. The annual rate is predicted to be unchanged at 2 %. The core CPI rate is forecast to be flat in June, after gaining 0.2% in April.

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Gold clings to 21-DMA amid less active markets

Gold carries the 3-week old lower high formation forward as it clings to 21-day moving average (DMA) during Wednesday’s less active market hours ahead of the European session. Lack of major data/news during the Asian session limits market moves.

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