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Worse manufacturing production released earlier in Wednesday's session was totally neglected by Pound as weakness in production was priced-in by markets already.
Some gaining on Cable in early London session was induced by USD weakness due profit taking before Yellen testimony.
Fed's prepared statement speech and Q&A session was rather neutral. Fed in wait-and-see data-depended mode. But rate hike in March possibility diminished to 2%, according to fed fund futures.
Crude oil inventories unexpectedly dropped -0.754M. Along with Yellen's words these data created few tides in WTI futures and USD/CAD rates.
Looking ahead there is a relatively light calendar in the euro zone on Thursday. In the US, Initial Jobless Claims numbers are due and are expected to drop from 285K to 280K this week. also, the Fed's Yellen will testify before the Senate Banking Committee in Washington D.C. No changes in Canada's New Housing Price Index for December expected: 0.2% as in previous month.
Some gaining on Cable in early London session was induced by USD weakness due profit taking before Yellen testimony.
Fed's prepared statement speech and Q&A session was rather neutral. Fed in wait-and-see data-depended mode. But rate hike in March possibility diminished to 2%, according to fed fund futures.
Crude oil inventories unexpectedly dropped -0.754M. Along with Yellen's words these data created few tides in WTI futures and USD/CAD rates.
Looking ahead there is a relatively light calendar in the euro zone on Thursday. In the US, Initial Jobless Claims numbers are due and are expected to drop from 285K to 280K this week. also, the Fed's Yellen will testify before the Senate Banking Committee in Washington D.C. No changes in Canada's New Housing Price Index for December expected: 0.2% as in previous month.