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Forex Flash: Majors weighed down by FOMC and PMIs - OCBC Bank

Emmanuel Ng of OCBC Bank notes that majors continued to shade lower against the dollar on Thursday post FOMC minutes while the EUR also wavered lower on disappointing economic releases (French and German PMIs) ahead of the weekend Italian elections.

Elsewhere, he sees that JPY also picked higher across the board as investors took stock of its recent weakness. This morning, the AUD blipped higher after comments from both Treasurer Swan and the RBA’s governor confirmed that the RBA remains in a neutral setting. Looking ahead he writes, “For today, apart from the drag from soft economic numbers, the EUR may also continue to be apprehensive towards the upside on concerns that the weekend Italian elections over the weekend may result in a hung parliament.”

Forex: EUR/JPY stronger as German IFO surprises

The EUR/JPY is reacting stronger to better than expected German IFO February survey released during the European morning. All three criteria came in higher than expected: Business Climate rose from 104.3 to 107.4 (consensus of 105.0); Current Assessment rose from 108.1 to 110.1 (consensus of 108.5); Expectations rose from 100.6 to 104.6 (consensus of 101.3).
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Forex Flash: AUD finds support following RBA comments - BTMU

Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that , the Australian dollar has derived support from comments from RBA governor Stevens who echoed comments in the latest minutes that prior monetary easing is “having an effect” in supporting the Australian economy.
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