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AUD/USD recovers above 0.8700

FXStreet (Córdoba) - AUD/USD erases losses after moving off session lows and recently climbed to 0.8728, after the release of US economic data.

The PPI index rose above expectations in October in the US, but Greenbank surprisingly weakened in the market, boosting AUD/USD to rise above 0.8720. Currently the pair trades at 0.8727, up 0.23% for the day.

The aussie is recovering after ending yesterday in negative territory following a reversal from weekly highs to 0.8700. Today, words by G. Stevens, RBA Governor weakened the aussie in the market; AUD/USD bottomed at 0.8680 but quickly bounced back above.

United States Redbook index (MoM) climbed from previous -1% to -0.9% in November 14

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EUR retraces yesterday’s losses - Scotiabank

Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, notes EUR retracing yesterday’s losses to break above 1.25.
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