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Inside Session as Markets Look Ahead to Busy Week

FOREX
  • Markets generally took profits on the price action seen at the tail-end of last week throughout Monday trade as GBP gained, the greenback softened and recent ranges were generally respected.
  • Data releases were few and far between Monday, with more focus paid to the CPI, retail sales prints later in the week as well the beginning of US earnings season. Big name US banks including Goldman Sachs, JP Morgan, Bank of America and others are due to report from Tuesday onwards.
  • Early gains in WTI and Brent crude futures faded, leaving the likes of NOK and CAD at the bottom of the G10 pile.
  • JPY traded well alongside GBP and CHF, with the upside momentum in equity markets globally petering out as US indices traded in a holding pattern for most of the session.
  • Focus Tuesday turns to UK industrial production and trade data for February, Germany's ZEW survey and the US CPI report. China trade balance numbers may also be released. Fedspeak picks up, with Harker, Daly, Barkin, Mester, Rosengren and Bostic all due to speak.

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