Good Afternoon
The Euro has been trading in a narrow range
after the release of two reports from Germany offset each other. German CPI
came in better than expected while the unemployment rate came in lower than
expected, so not much
action for the euro
The Bank of Canada announced their
interest rate decision, which as expected was unchanged. One surprise was this
announcement was expected to include indications that Canada would drop their
tightening bias which did not happen. The Bank of Canada decided to maintain
their current policy causing the Canadian Dollar to weaken.
Without any news to shake up the market
most currency pairs have been stuck in ranges. Some of the news released today
was expected to create some volatility in the market but this has disappointed
and has not pushed it out of its ranges.
Yonah
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