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Can Cable Climb to 1.5500?

posted by fx360 682 days ago in USD, NZD, Consumer made popular 682 days ago

Cable rose to a two month high in early London trade today buoyed by strong UK labor data which showed continued improvement in the country’s labor markets. UK claimant count declined to -20.8K versus -20.1k eyed as the number of jobless decrease

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Dollar: Expect Slow Grind Lower after US Data

posted by fx360 682 days ago in USD, Daily made popular 682 days ago

For the second month in a row, U.S. consumers cut back spending as the government led recovery slows. The U.S. economy has come a long way since entering into recession in December 2007 but the path to the exit has been long and exhausting. Unemp

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US and Canada Trade Show Strength Beneath Headlines

posted by fx360 683 days ago in USD, GBP, AUD made popular 683 days ago

Strong earnings from Alcoa, a sufficient bond auction for Greece and weaker trade numbers from the U.S. and Canada have basically left currencies not far from yesterday's levels. The rise in stock market futures and the resilience of pairs such

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USD: Fundamentals Or Risk

posted by fx360 683 days ago in USD, JPY made popular 683 days ago

It has been a very quiet day in the currency and equity markets with the dollar trading slightly higher against most of the major currencies. Although trading tends to wind down during the summer, the lack of volatility in the financial markets

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Moody's Downgrades Portugal, Euro Heads for 1.2500

posted by fx360 683 days ago in EUR, Daily

Euro dropped below the 1.2550 level after Moody’s downgraded Portugal two more notches to A1 from AA2 but kept the outlook stable. Moody’s noted that Portugal’s fiscal position will deteriorate over the medium term and the rating agency was conce

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Euro and Pound Go Their Separate Ways

posted by fx360 683 days ago in USD, EUR, Daily made popular 683 days ago

High beta currencies went their separate ways in early morning European trade with euro falling below 1.2550 after Moody’s downgraded the debt of Portugal while cable rallied towards 1.5100 after CPI data printed hotter than expected. The euro w

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FOREX: U.S. And China

posted by fx360 684 days ago in USD, Employment made popular 684 days ago

The lack of the U.S. economic data has put the financial markets in a consolidative mood today. The only two currencies that saw any meaningful action were the British pound and Canadian dollars, which were also the only two countries that releas

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Political Uncertainty Weighs on the Yen

posted by fx360 684 days ago in USD, JPY, Daily made popular 684 days ago

They yen fell on the first trading day of the week in the wake much larger than expected loss by the ruling Democratic Party of Japan in elections for the country’s Upper House of Parliament. The DPJ was able to claim just 44 seats out of 121 con

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Euro and Cable Start the Week Weaker

posted by fx360 684 days ago in USD, JPY, Daily made popular 684 days ago

A negative start of the week for risk FX with both euro and cable slipping below the 1.2600 and 1.5000 levels respectively as both pairs appear to have reached their intermediate terms tops after rallying for the past several weeks. On a very qui

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Why Low Inflation is Dangerous For the Eurozone

posted by fx360 687 days ago in Daily, Oil

European inflation gauges remained subdued in June with flash CPI printing at 0.1% versus 0.1% eyed. On a year over year basis prices increased a very tepid 0.9% easing from 1.2% the year prior. A decline in oil prices and cheaper clothing all c

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Euro Steady in Quiet End of Week Trade

posted by fx360 687 days ago in USD, EUR, Daily

Risk maintained its bid tone into a quiet Friday session supported by better equity flows and a growing sense of confidence that the European stress tests of the region’s banking sector will prove reassuring to investors. The EUR/USD traded near

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CAD: Another Blowout Employment Number

posted by fx360 687 days ago in CAD, Daily, Employment

The Canadian dollar soared like a bird this morning after another blowout employment report. A total of 93.2k Canadians found new work last month, driving the unemployment rate down to 7.9 percent, the lowest level since January 2009. The amoun

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