This afternoon main data release was US GDP, which came in line at 0.8% and US Core Personal Consumption Expenditure also came in line with expectation. Whereas, GDP annualized came in slightly below at 0.7.
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This morning we also saw a high for cable at 144.13 due to a boost in appetite for risk as a result of Japan cutting interest rates into negative territory. However, US data is slightly worse than expected and we may see attitudes towards risk aversion, coming low at 142.50. One thing to note is that the data released was only slightly off expectations, but some traders may have expected much worse because of the poor durable good figures yesterday; another reason why we have seen the drop in cable.
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