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MasterTrader

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Wednesday 22/05/2024

- UK CPIs in the morning - GBP UP? - 7:00 AM UK TIME

- Crude Oil Inventories coming at 15:30 UK TIME, a surplus expected ?
 
GBP USD.PNG
 
Today what traders will focus on is news about US data related to average earnings, unemployment rate, and NFP. Mainly US Non-Farm Employment Change (NFP) often makes the market more volatile.
 
There was quite a big difference in yesterday's NFP data, the actual data showed a figure of 256k, higher than the previous 212k and also higher than the forecast of 164k, plus the unemployment rate data was lower than before. As a result, the USD strengthened shortly after the news release, but the effect seemed to be only temporary.
 
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