Forex
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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.
Headline UK CPI remaining above 10% will force the Bank of England to hike again in May. This is once more driving support for GBP on a cautious day for majors.
Markets have become more settled in the past few days. A mixed set of FOMC minutes have played into the caution. However, traders will be looking towards today’s US CPI inflation to be the next big risk event that drives sentiment.
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