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Forex: AUD/USD remains bullish around 1.0360

The Aussie dollar is hovering over 1.0360 on Wednesday, heading towards another attempt to break Tuesday’s highs in the vicinity of 1.0370, as risk appetite is propping up the upside.

In the data front, the Westpac Leading Index in December rose 0.2% on a monthly basis, down from November’s +0.7%. “Wages (the Wage Cost Index, which is the benchmark wages series in Australia now) rose 0.8% QoQ in 4Q 2012, in line with expectations. From a year ago, wages are 3.4% higher, which is the lowest annual increase since 2Q 2010”, commented Adrian Foster, analyst at Rabobank.

At the moment, the cross is up 0.05% at 1.0360 facing the next barrier at 1.0375 (high Feb.15) ahead of 1.0388 (MA21d) and then 1.0400 (high Feb.6).
On the downside, a break below 1.0330 (hourly high/lows Feb.19) would expose 1.0322 (MA200d) and then 1.0318 (MA10d).

France Consumer Price Index (EU norm) final (YoY): 1.4% in Jan; -0.6% (MoM)

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Forex: USD/CHF pressured on European data

The USD/CHF eased in early Wednesday trading from just below 0.9230, but only recently dropped below the 0.9200 handle, just ahead of the release of German data. January CPI and HICP dropped to +1.7% and +1.9% (YoY) in line with consensus. January PPI rose from 1.5% to 1.7% (YoY), instead of easing to 1.2%, as data rose +0.8% on the month (consensus of +0.3%).
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