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After oil prices edged above $50, we have further focus on commodity currencies. The crude oil inventories report will determine the next move for oil and CAD. Will the RBNZ cut rates or will it sound optimism like the RBA? The pair is close to the double top. And also for Australia, we get Chinese inflation data after trade figures came out better than expected. Elsewhere, the Fed’s favorite job indicator, JOLTs, is released for April. In the euro-zone, buying of corporate bonds commences today and maybe that will take EUR/USD out of its range.

Wrap up for the morning show for June 8 2016: