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Euro Bounces Ahead Of ECB Meeting

The euro bounced against the dollar to hit a 5-month high after news that Moody's upgraded Spain’s credit outlook to stable from negative. The ratings agency cited a brighter medium-term view for the Spanish economy. EURUSD jumped to $1.3638 late in the Asian session, up from the session open of $1.3592 and off yesterday’s low of $1.3527. Focus now turns to the European Central Bank policy...

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December 5, 2013 @ 8:12 am

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Australian Dollar Falls After RBA Remarks That AUD Value Is Too High

The main economic news during the Asian session was out of Australia, with various headlines and data giving the Aussie a rollercoaster ride. Australian retail sales were better-than-forecast, lifting the AUDUSD to an early session high of $0.9133. Then the Reserve Bank of Australia knocked aussie lower. Even though rates were kept on hold as expected at 2.5%, the RBA statement that the...

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December 3, 2013 @ 9:04 am

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Euro supported drop in Eurozone Unemployment

Data from the Eurozone today showed that the jobless rate fell in October for the first time in over three years to 12.1% from the prior month’s record high 12.2%. This was slightly below expectations for the rate to remain unchanged. Also, other data showed the Euro region’s inflation rate higher-than-expected. While this should dampen expectations of a rate cut by the European Central...

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November 29, 2013 @ 2:30 pm

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Yen Rebounds From 5-Year Low Against Euro After Upbeat Japanese Data

The yen had a roller-coaster ride in Friday’s Asian session, briefly falling to a 5-year low against the euro and dropping to a new six-month low against the dollar but was able to trim losses after a series of positive data out of Japan. Inflation accelerated at a faster pace in November while factory output also rose, giving a more positive outlook for the Japanese economy. The upbeat...

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November 29, 2013 @ 9:43 am

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