Weak UK PMI data points to further Pound weakness |
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EUR/USD now points to some consolidation – UOB
UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang suggest EUR/USD is now seen within the 1.0680-1.0880 range. Key Quotes 24-hour view: “We expected EUR to ‘trade sideways between 1.0790 and 1.0860’ yesterday. However, EUR rose briefly to 1.0869, dropped sharply to 1.0773 and closed at 1.0788 (-0.26%). The rapid decline in […]
CIBC now sees the Bank of Canada hiking 25 basis points this month
Today’s jobs report showed the Canadian economy adding 104K jobs in December, far more than the 5K consensus. That follows a strong November CPI report and has the OIS market pricing in a 72% chance of another 25 bps hike at the January 25 meeting. CIBC shifted its call to a 25 bps hike after […]