Alternatively, some of that decision-making is automated. International funds are exchanged into domestic currencies automatically.
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What's not changing is overall volumes. More than $5.1 trillion is trading every day. As long as money is flowing in one direction or another, there will be opportunities for traders.
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This week was rather slow on the news and data front, with the one notable driver being reports around tax cuts in the U.S. potentially being delayed, which created a quick blip of weakness in U.S. equity markets that appears to have carried over globally.
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Next week’s calendar picks up considerably. Throughout next week, we get a series of Central Banker speeches and this is accented with multiple data points of interest.
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Wednesday is also rather full, with US CPI and Retail Sales in the morning, followed by another appearance from Mark Carney later in the day.
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Australian employment finishes off the Wednesday outlay, and the week closes up on Friday with a Canadian CPI report that will likely keep USD/CAD on the move. Below, we look at three FX markets and themes of interest as we move into next week.