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Forex: EUR/HUF in session highs above 294.00

The Hungarian forint climbed to levels above the key resistance at 294.00 against the single currency on Monday, after retails sales in Hungary contracted 2.1% in a year through December, improving November’s contraction of 4.1%.

The cross is now up 0.17% at 294.20
Next resistance levels line up at 294.94 (high Feb.7) ahead of 300.00 (high Jan.28) and finally 307.65 (high Jun.1).
On the other hand, a breach of the psychological level at 290.00 would bring 288.70 (low Feb.13) and then 287.65 (low 2013 Jan.13).

Forex: USD/CAD surrenders gains to trade at 1.0223/24

The USD/CAD has traded in a tightened 23-pip range Monday (1.0218 session low, 1.0241 session high), as European markets brace for the Italian electoral outcome. Levels have been quite muted for the pair this far, however in recent moments the cross has surrendered the majority of its gains, returning near opening levels at 1.0223/24 at the time of writing.
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Commodities Brief – Precious metals volumes soar ahead of Italian electoral outcome

Gold prices have jumped overnight during Asian trading, as volumes have given bulls something to contemplate after a dismal start to 2013. After recently falling to a 7-month low last week, the yellow metal is trading above its 20, 50, and 200-day SMA for the first time in the month of February. In recent moments, trading reached a session high of 1592.25, though at the time of writing gold has settled at USD $1590.05 per oz., up +1.04%. Ultimately, Monday will be driven by the anticipated results of the Italian electorate, which promises to capture the spotlight – polls close around 14:00 GMT.
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