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Daily Forex Snapshot: 9-2-2010
Forex - Australian Trade Surplus Shrinks
G10 Advancers and Decliners vs USD
JPY
0.30
GBP
-0.08
EUR
-0.12
CHF
-0.15
Asian equity markets have opened on a positive note this morning following the strong gains posted in the US session yesterday on the back of increased risk seeking resulting from better than expected economic data out of the US. The ISM manufacturing index bettered analysts estimates at 56.3 actual v 52.8 exp while the ADP employment reading showed a drop in new jobs added, showing a decrease to...
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Daily Forex News & Commentary: 9-2-2010
FX Market Skittish Before ECB
The rally in risk appetite boosted by strong Chinese and Australian data yesterday was further encouraged after our last article by stronger than expected US ISM numbers. Forex risk correlated currencies, such as the Euro, moved lock-in-step with the data. EURUSD rallied above 1.2800 and the S&P climb above 1080. However, US rates weren’t invited to the party as players remained unsure – 10...
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