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Euro Recovery Rally Stalls

posted by Avatar fx360 639 days ago in USD, EUR, Daily made popular 639 days ago

A quiet, meandering night in early European trade today with high beta currencies giving up a good chunk of their Asian session gains as sellers repelled the move towards 1.2750 in the euro while cable failed in its rally to take out the 1.5600 l read more
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Better Weekly Jobless Data Provides Relief For the Dollar

posted by Avatar fx360 639 days ago in USD, Daily, Employment made popular 639 days ago

US weekly jobless claims beat expectations printing at 473K – better than the 490K forecast - and significantly lower than last week’s reading which was revised upward to 504K. The news eased some of the concerns regarding the double dip scenario read more
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Is Political Stalemate a Positive For the Aussie?

posted by Avatar fx360 642 days ago in AUD, Daily

The Australian dollar has recovered most of its Asian session losses in the aftermath of the country’s indecisive election results as currency traders bet that a coalition government will postpone or reduce the proposed mining tax. Australian el read more
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Aussie Recoups Losses, Euro Capped by Mixed PMI

posted by Avatar fx360 642 days ago in USD, AUD, Daily

A relative quiet start to the week with euro and pound marking time around last Friday’s levels while Aussie dropped precipitously in the aftermath of the Australian election only to end up recovering all of its losses by mid morning European read more
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FX: U.S. Data Provides No Relief for Risk

posted by Avatar fx360 653 days ago in USD, EUR, JPY made popular 653 days ago

With global equities failing to recover overnight and Dow futures off approximately 70 points, we are not convinced that the selling is over. Risk aversion still dominates the flows in the financial markets but currencies have steadied somewhat b read more
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Australian Labor Data Mixed - Can Aussie Regain .9000?

posted by Avatar fx360 653 days ago in AUD, Daily, Employment made popular 653 days ago

Australian employment printed with mixed results as jobs increased slightly more than expected but the unemployment rate rose to its worst reading in three months. Australia generated 20K new jobs in July, but full time employment fell by 4.7K w read more
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Euro Decline Continues as Weak IP Weighs

posted by Avatar fx360 653 days ago in USD, EUR, JPY made popular 653 days ago

Risk FX remained under pressure in Asian and European trade today as global equity markets were lower across the board in the wake of strong sell off in US equities yesterday and the after hours warning from Cisco stating that demand may be cool read more
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Forex: Risk Aversion Magnified by Weaker Trade Data

posted by Avatar fx360 654 days ago in USD, Daily made popular 654 days ago

The U.S. dollar remained under pressure following news that the trade deficit rose to its highest level since October 2008. In the month of June, the trade gap increased from -$41.984B to -$49.895B as imports outpaced exports. This deterioration read more
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Soft Chinese Data Spurs Profit Taking in Risk FX

posted by Avatar fx360 654 days ago in USD, EUR, Daily made popular 654 days ago

Chinese data printed slighter softer than expected confirming market suspicions that growth in Asia’s key economy was slowing, triggering a strong sell off in risk that took high beta FX to fresh weekly lows. Chinese PPI printed at 4.8% versus 5. read more
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Euro Hit With Profit Taking as 1.3000 Comes into View

posted by Avatar fx360 654 days ago in USD, EUR, Daily made popular 654 days ago

Risk FX came under profit taking pressure in Asian and early European trade today after Chinese data showed some slowdown in activity, triggering a wave of risk aversion selling in equities. The Nikkei was down more than -2.5% after a slew of Ch read more
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Pound Crumbles on Weak UK Retail Sales Data

posted by Avatar fx360 655 days ago in USD, GBP, Daily made popular 655 days ago

UK Retail Sales slowed markedly in July sending the pound tumbling in the Asian session as currency traders became concerned about country’s economic growth going forward. UK BRC Retail Sales monitor printed at 0.5% in July versus 1.2% in June. T read more
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Dollar Gains as Fears of QE 2 Ease

posted by Avatar fx360 655 days ago in USD, Daily made popular 655 days ago

The dollar was relatively well bid in Asian and early European trade today ahead of the key FOMC decision later in the day, as the unit was helped by a combination of risk aversion flows and growing consensus that the Fed is unlikely to make any read more