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Markets tread water ahead of further..........>

FOREX
FOREX: Markets tread water ahead of further Fedspeak
-Speeches from both voters and non-voters were the highlight of the session
Wednesday, a theme underlined by the FOMC minutes reiterating the new emphasis
on the flexibility of Fed policy in the face of economic risks. That's expected
to remain the case Thursday, with a further six Fed appearances today including
the Chair Powell at 1700GMT. While no text is scheduled to be released, the Q&A
session is bound to challenge the latest dovish turn from the Fed under his
tenure.
-AUD is modestly the best performer in Europe as commodities largely hold recent
gains and as bulls continue to jostle for a close above the 50- and 100-dmas at
$0.7188 and $0.7178 respectively. JPY isn't far behind, with consolidation in
equity markets briefly helping tip USD/JPY back below the Y108 handle - although
this has been reclaimed ahead of the NY crossover.
-Fedspeak is due throughout the day, with data highlights including weekly US
jobless claims and Canadian house prices and building permits data. ECB minutes
from their December meeting cross at 1230GMT.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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