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Greenback stages small bounce pre-ECB - The...>

FOREX
FOREX: Greenback stages small bounce pre-ECB
- The greenback is furtively the strongest currency in G10 early Thursday, with
the USD index recovering back to yesterday's best levels. The gains are coming
at the expense of GBP, AUD and NZD in early trade, which have outperformed after
rallying off the Tuesday lows. This has dragged GBP/USD back below $1.2550 in
recent trade and below the lowest level of Wednesday, but Tuesday's lows are
still a way off for now. NOK is the weakest in G10 so far, with USD/NOK bouncing
off yesterday's six week low.
- Earnings season continues Thursday, with today's session the busiest of the
week in terms of total market cap reporting. Updates are due from Morgan
Stanley, J&J, Bank of America, Charles Schwab and Netflix.
- The ECB rate decision takes focus going forward, with no change in policy
expected from the governing council. More attention will likely be paid to the
subsequent press conference with Lagarde. US retail sales and weekly jobless
claims data are due, as well as speeches from BoE's Bailey and Fed's Williams,
Bostic and Evans.

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