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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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Sterling and Euro Outperform Vs US Dollar

The main currency of the day was the sterling which outperformed against the dollar and euro, as well as against the yen after being boosted by strong UK second quarter growth data. While the second reading was in line with expectations, gives encouraging signs of a steady recovery in the UK economy. Q2 GDP rose at a 0.8% rate quarter-on-quarter, which was the quickest pace in over three...

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November 27, 2013 @ 2:20 pm

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EUR/JPY Hits A New 4-Year High

The dollar remains bullish against the yen, while the euro hit a new four-year high against the Japanese currency in today’s Asian session. Bank of Japan Governor Kuroda kept markets speculation that the yen will weaken over time as the BOJ continues with its aggressive monetary easing policy and asset purchase program which is aimed at fighting deflation in Japan. The euro climbed to a...

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November 25, 2013 @ 8:20 am

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