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After a light calendar on Monday, key inflation figures await traders exactly two weeks after turnaround Tuesday. While the greenback has lost some ground to commodity currencies, the jury remains out on major pairs, and this could be an opportunity to break to the upside or to the downside. Also watch out for gushing oil prices as well as inflation in the UK, where the pound currently enjoys more favorable polls.

Wrap up of the morning show for May 17th 2016: