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It’s been a bit of a weird week as idiosyncratic positioning, rebalancing, and rotation trades have dominated as there wasn’t much to chew on macro-wise. The story in macro was Europe-centric as inflation came in higher across the Old World, and ECB cuts continue to be priced out. The ECB essentially promised a rate cut on June 6, and will almost surely ...
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It’s been one of those weeks that’s all about the details. The weekly bar of the US Dollar is currently showing as a spinning top but that doesn’t really tell the story of the currency’s price action. Last week showed a strong response to resistance at the 105-105.13 zone, which led to a fast snap back that held through this week’s open. On Tuesday, a key ...
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