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Session Recap: Euro firmer as Italian centre-left party leads polls

The European session was relatively quiet with most currencies reversing their Asian bias. The US dollar trades lower overall, with the euro wavering around 1.3300 as investors await news from the Italian election. First exit polls show Italy's centre-left leads in election. Elsewhere, the yen retraced early losses versus the dollar and the pound remains under pressure after Moody's downgraded the UK. The Aussie is a tad firmer as it shrugged off disappointing Chinese data, while the CAD remains virtually unchanged.

Main Headlines in Europe (in chronological order):

Commodities Brief – Precious metals volumes soar ahead of Italian electoral outcome

Is Moody’s downgrade in the UK long overdue or overblown?

Bank of Greece : Greek economy to shrink by 4.5% in 2013

Moscovici and Schäuble push Cyprus accelerate its reforms amidst budget concerns

Euro looks for strength from Italy

European markets rally ahead of Italian elections' results

Exit polls: Italian centre-left seen at 34.5%

Exits polls show Bersani to win elections with 36% to 38% votes

Commodities Brief – Gold fails to breach 1600 barrier, falls off highs following Italian outcome

Gold prices surged earlier today during the overnight session and during European trading as investors braced for the results of the Italian electoral outcome. With news of a Bersani-led coalition set to take power the yellow metal waned slightly as it fell off its session high of 1594.05, losing strength in recent minutes to trade in familiar territory at USD $1586.45 per oz. At this juncture, the gold is being stabilizes by its 200-day SMA, which figures to hold the pair (1600 is a psychological barrier after earlier attempts failed to overtake the region today). In these moments, the price of gold is still in positive territory, up +0.93%.
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American equity markets open positively Monday

The US Stock market experienced an upbeat and positive opening Monday, as investors eye the looming March 1 deadline in the US. Beginning with the indices and composites, the NASDAQ rose +0.55% as it settles in region of 3179.64, up +17.27 points in these moments. In addition, the S&P 500 is trading in positive territory, operating at 1522.49, ascending +6.96 points or +0.46% at the time of writing. Finally, the Dow Jones has moved high at the opening as well, trading in the zone of 14040.27, presently +0.28% after a movement of +39.70 points.
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