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There is a dense run of key event risk next week, from Eurozone CPI and the US PCE deflator for rate speculation to US consumer sentiment and NFPs for recession fears ....
USDCAD is returning to the former ‘neckline’ of a six week head-and-shoulders pattern at 1.3500 after an extended consolidation above support at the 38.2% Fib of the 2021-2022 range ....
While risk trends remain a key focus moving forward, top event risk is drawing my attention to EURUSD in particular between Eurozone and US inflation figures ....
It’s an official ‘bear market’ for the S&P 500, and the implications run deep enough to flip the US Dollar to its more extreme ‘safe haven’ status ....