It was one of those rangebound types of weeks in the forex market as currencies chopped around due to a busy forex calendar. China’s stimulus updates were front and center, before the spotlight moved to other major central bank announcements and top-tier U.S. data. Both the Bank of Canada (BOC) and European Central Bank (ECB) maintained interest rates at current levels but expressed a somewhat dovish pivot, while the Bank of Japan (BOJ) had some hints of upbeat vibes during Ueda’s presser. Global flash PMI readings also took center stage, although the results came in mixed and highlighted divergences in growth prospects between the major economies.
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