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And so the panic amid the Middle East conflict barely lasted a day. It’s amazing how the attention span of markets is almost as short as social media these days. How the times have changed. The dollar is sitting little changed today after yesterday’s drop in US trading, following a bid from the risk aversion early in Asia and in Europe.

The price action for the day is leaving a lot to be desired, with most dollar pairs stuck in narrow ranges ahead of European trading.

Treasuries will have some catching up to do to the risk flows yesterday but outside of that, broader market sentiment is calmer and stocks are holding steadier following the rebound in Wall Street overnight.

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If anything, it seems like we might get an extension to the risk positive flows before traders keep their enthusiasm in check ahead of the US CPI data on Thursday.

As for European trading today, it looks set to be a quiet one with no major releases from the region in the session ahead.

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1000 GMT – US September NFIB small business optimism index

That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.

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