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Forex Flash: Ben weaves his magic - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale feels that investors should take a step back and be impressed.

He notes that Ben Bernanke has weaved his magic over the markets and along with the relative success of yesterday’s BTP auction (i.e., there was decent demand at much higher yields) and the risk mood has turned 180 degrees. He writes, “Today is month-end and with a lot of second division data but nothing likely to be really market-moving, we will see whether the Dow Jones index can launch an assault on 2007 highs, and whether the pro-risk mood takes EUR/USD and USD/JPY up within current rangers, or out through the top of them.”

Forex Flash: Final Chinese feb MNI Indicators declines from flash estimate - Nomura

Nomura economist Zhiwei Zhang notes that the The MNI China business sentiment indicator dipped to 60.98 in February from a flash number of 61.79.
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Forex: EUR/JPY tumbling after German unemployment

On the release of German unemployment data, the EUR/JPY is diving and has already erased its daily gains by falling from 120.40/50, below its opening price of 120.14, and already below the 120.00 mark.
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