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Get breaking Forex News, real time forex market analysis, current trading strategies, plus a global economic calendar here.Good afternoon. Well, I think Gerry has summed it up quite succinctly, with currencies reluctant to move in any serious way, it sounds like a lot of traders in Europe are using it as an opportunity to square up and go for an early weekend. We do have a smidgen of data due with Canadian


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Good afternoon. Well, I think Gerry has summed it up quite succinctly, with currencies reluctant to move in any serious way, it sounds like a lot of traders in Europe are using it as an opportunity to square up and go for an early weekend. We do have a smidgen of data due with Canadian Retail Sales expected, up 0.1% on the headline reading for April and flat excluding Autos. Elsewhere the Fed’s Hoenig says that “too big to fail” is harmful to the US economy. Wise words indeed.

Hoenig continues by saying that the Fed is very seriously thinking about its exit strategy and that they have put an enormous amount of liquidity in the system, which risks an inflationary outbreak if not withdrawn.

On the economy he says that he is confident that it wil recover, helped by the policy stimulus, while inflation is a longer term issue.

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