Trading Video: ECB Decision and Chinese GDP Lead a Dense Docket

Talking Points:

• Both the Dollar and global equities eased back this past session, deferring again definitive breaks

• Greek speculation and UK inflation marked key event risk Tuesday but true moves eluded EUR and GBP

• Ahead, high profile event risk like Chinese GDP and an ECB decision may reach further than AUD or EUR

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We are wading into deeper event risk moving forward. This past session stirred key themes and offered a few high-profile releases. Yet, they fell short of catalyzing critical breakouts and trends that seem within reach. Both the US Dollar and global stocks ticked back from their respective highs as the updates fell short of the extreme monetary policy divergences and risk trends. Meanwhile, US earnings, Greek headlines and UK CPI generated some waves without hitting critical speculative mass. The event risk scheduled for the coming session may not offer the severe surprises but they may inherently have greater reach: Chinese GDP, an ECB rate decision, a Greek bond auction and a BoC rate decision. We consider the data and themes for short-term opportunities and trends in today's Trading Video.

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