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Greenback Solidly Advancing, Colombia Trade Balance Data Due

LATAM
  • The greenback is making solid gains on Wednesday, with EUR/USD faltering on the approach to Tuesday's $0.9876 high during the Asia-Pac session, and consistently drifting lower through the European morning, eating into Monday’s advance back below 0.9800.
  • Canadian inflation data takes focus going forward, wit markets expecting Y/Y CPI to drift to 6.7% from 7.0% prior. US housing starts and building permits are also on the docket. Markets also await speeches from BoE's Cunliffe & Mann, ECB's Visco & Centeno and Fed's Kashkari, Evans and Bullard.
  • Colombia trade balance data is the only major Latam release on Wednesday.

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