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USD/CAD, EUR/USD: USD Price Action After the Election & FOMC
It was a big week in the headlines with the election on Tuesday and FOMC on Thursday. Along the way, the US Dollar tested a trendline taken from 2023 and 2024 swing highs, which has held. But the reaction after that showed strength on Friday after the FOMC rate decision. For next week, Fed-speak is back on the radar as FOMC members are now out of the blackout window, and Wednesday morning brings the next release of US CPI. PPI is released on Thursday and retail sales on Friday, so there will be several data points for FX traders to work with. It was a big week for markets and at this point, it seems both the election ... (full story)