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Concerning economic data out of China and subsequently, a huge negative surprise in the NY Fed survey is shifting flow back into the USD.
The risk rally and USD correction of earlier in the week have been ebbing away in the last day or so. The USD is starting to recover some lost ground, whilst equity markets feel the pressure of US Big Tech earnings disappointments.
The risk recovery has continued this week. However, all eyes will turn to the US CPI inflation today, with elevated USD volatility on any surprises.
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