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Session Recap: USD keeps shining

After yesterday's FOMC minutes, the main theme of the day has been USD and JPY strength. The greenback benefited from expectations the Federal Reserve may stop providing monetary stimulus. Meanwhile, the euro was also weighed by renewed signs of a struggling economy after region's PMI came in softer than expected in February. Uncertainty ahead of an Italian general election on the weekend also kept investors away from buying the euro. Commodity currencies remain under pressure, while the Cable managed to rebound from a 2 ½-year low scored earlier.

Main Headlines in Europe (in chronological order):

Germany: Flash PMI Manufacturing shows modest growth in February

EMU: Flash PMI Manufacturing contraction continues in February

Borrowing costs fall at Spanish debt sale

EUR/USD: 1.3150, next big support

European markets down on FOMC, Chinese controls and EMU PMI

Euro eyeing 1.30 as sentiment turning bearish

US: Initial Jobless Claims rose to 362K

US: CPI rose 1.6% in January, matching estimates

France expected to miss 2013 deficit target

US: Manufacturing PMI fell to 55.2 in February

Commodities Brief – Gold escapes ‘death cross’, precious metals fall ahead of US opening

American equity markets unable to rebound Thursday

US: CB Leading Indicator at 0.2% in January

The Leading Indicator by the Conference Board came at 0.2% in January (MoM), lower than the 0.3% expected. December data came in at 0.5%.
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Forex: EUR/USD moves above 1.3200, Fed's Bullard still ahead

With the release of the last relevant pieces of US data for today, the EUR/USD finally moved above the 1.3200 line and printed a session high at 1.3228. Still, after yesterday’s unsettled market on the FOMC meeting minutes, today's Fed Bullard's speach 17:30 GMT must be the real focus of the day.
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