The dollar dropped to an almost 2-week low versus the yen on Wednesday. US durable goods orders unexpectedly decreased in June.

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Aussie Falls On Tame Australian CPI

Throughout the past few months, I have been writing about multiple bearish technical patterns during the recent uptrend in the sterling. Today’s 4 hour chart identifies a bearish ABCD pattern

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GBP/USD – Bearish ABCD Pattern

The European Central Bank released its Bank Lending Survey, showing persistent tightening in lending and credit provided by banks to investments and household throughout the second quarter of this year. Growth rate in the continent is stronger than expected, nonetheless, banks continue on tightening credit over the past three months

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ECB Bank Lending: Tight Credit Conditions Persist, Spending Cuts Could Curve Recovery