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GBP futures: upside corrective so far

In light of preliminary figures for GBP futures markets from CME Group, open interest rose by nearly 16.2K contracts on Wednesday from Tuesday’s final 205,778 contracts. Volume, instead, shrunk by around 63K contracts.

GBP/USD remains bearish near term

Following the recent weakness in the greenback, Cable is now advancing for the second straight session, regaining the 1.3300 handle and above after printing new YTD lows in the 1.3200 neighbourhood on Tuesday. The recent up move has been on the back of rising open interest while volume dropped significantly, leaving the door for a continuation of the squeeze higher albeit it should remain limited.

UK: Shoppers set to remain cautious, despite borrowing recovery - ING

Household borrowing recovered in April, but the cracks forming in the UK’s retail sector remain a big risk for the Bank of England, according to James
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Eurozone: Inflation temporarily back to target – Nordea Markets

Eurozone’s headline inflation temporarily returns to target due to higher oil prices as it surged to 1.9% y/y in May from 1.2% y/y in April and thus r
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