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Markets search for direction amidst muted recovery prospects

15/10/2012 | OzForex

Hopes of global recovery, fuelled last week by better than expected US jobs data, have been tempered by forecasts of a lacklustre third quarter earnings season that has seen the Dow Jones Industrial Average fall 2.1 precent in the last week.
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Risk on following strong US jobless data

12/10/2012 | OzForex

United States Dollar Marginal risk appetite returned to the markets yesterday boosted by a strong US jobless figure. The USD weakened as investors sought higher yielding assets and reversed gains posted earlier in the week. Despite the Dollar positioning itself for ...
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S&P downgrade Spain to near junk status

11/10/2012 | OzForex

Credit ratings agency Standard & Poor’s cut Spain’s credit rating from BBB+ to BBB- one level above junk status.
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GBP weaker as trade deficit widens

10/10/2012 | OzForex

The pound has come under selling pressure in the last 24 hours. It started yesterday morning following the release of weaker than expected UK economic data
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Draghi''s comments weighing on EUR/USD currently and it threatens a break below 1.2900

09/10/2012 | OzForex

United States Dollar: GBP/USD is trading towards the lower end of its most recent range and opens this morning at 1.6010. It broke support at 1.6100 early yesterday and has continued to drift lower in what has been quiet trade, with it being a North American public holiday ...
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Eurozone and EU Finance Ministers meet today amid growing uncertainty over Spanish aid request

08/10/2012 | OzForex

United States Dollar: US Non-Farm Payrolls was the main event on Friday. The data showed that the US economy added 114,000 workers in September vs. expectations for 114,000. At the same time figures showed that the US unemployment rate in the US fell to 7.8% in September, the ...
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Risk on as ECB stands ready to support Spain

05/10/2012 | OzForex

United States Dollar: As expected the Bank of England left interest rates on hold yesterday at 0.5% and its asset purchase facility unchanged at £375 billion. There was little reaction in GBP/USD and it ticked about close to 1.6120. EUR/USD was then lifted by Mario Draghi ...
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GBP/USD steady in run up to CB decisions and FOMC Minutes today

04/10/2012 | OzForex

United States Dollar: The pound fell to a low of 1.6070 vs. the US dollar yesterday after UK Services PMI came in slightly weaker than forecast. The index fell to 52.2 in September from 53.7 in August showing that growth in the UK service sector had slowed for the first time in ...
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Aussie dollar loses more ground as figures show trade deficit blow out

03/10/2012 | OzForex

United States Dollar: GBP/USD is a touch lower this morning. It was initially pressured lower yesterday following the release of weaker than expected UK construction PMI which showed that the sector contracted in September. The index came in at 49.5 vs. an expected 50.0. The USD ...
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Reserve Bank of Australia cuts rates by 0.25% and AUD is sold off

02/10/2012 | OzForex

United States Dollar: There’s not been a lot of change in GBP/USD over the last 24 hours. It opens at very similar levels to this time yesterday. The pair was initially pressured lower following the release of weaker than expected Manufacturing PMI yesterday morning. The ...
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