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Session Recap: USD advances ahead 'sequester'

The EUR/USD traded decoupled from its historical correlation with Wall Street as the Dow Jones rallied close to all time highs but the EUR/USD was down to test the 1.3060 level. Risk-off mode is prevailing in currencies as cautiousness amongst investors is set to prevail ahead of the so called US ‘sequester’, which kicks in tomorrow.

By the way, The IFM said they will revise down the US growth outlook if sequester reaches its March 1st deadline and the government must cut spending lower.

USD is the winner of the session, the GBP/USD is atrding in range between 1.5150 and 1.5200, the USD/JPY popped in the late American session to 92.80. The AUD/USD collapsed to the 1.0210 area and the USD/CAD jumped above 1.0300.

Currencies Performance

Main headlines in America:

US: GDP expanded 0.1% YoY in Q4

Canada: Current Account deficit at $17.26 billion in Q4

US: Chicago PMI improves unexpectedly to 56.8 in February

American equity markets barely changed after GDP data

Commodities Brief – Gold holds below 1600, silver below 29.00 after upbeat US data

EURUSD breaks down through 1.3100

Forex: USD/JPY upside stalled at 92.40

Fundamental Afternoon Wrap: Dutch concerns ´clogg´ up European sentiment

Session Recap: Risk appetite recedes

Forex: EUR/USD dips to lows below 1.3100

Cable testing strong support at 1.5150 again

Forex: EUR/JPY in session lows around 120.50/55

IMF will revise US outlook after the sequestration

Forex: USD/CAD hits fresh 8-month high

ECB’s Noyer: EMU states are making progress on fiscal and structural reforms

The gold rush is over

Forex: AUD/USD extends decline to 1.0225

What can't go up…

Forex: EUR/USD keeps the red below 1.3100

Forex: GBP/USD recovers and tests 1.5200

US markets advance as ‘sequester’ looms

Forex: USD/JPY picks up momentum, nears 93.00

Forex: USD/CHF nears 2013 high

Forex: USD/CHF nears 2013 high

The dollar has continued to strengthen during the New York session, and recently broke above the 0.9350 area against the Swissy to reach its highest level in 6 weeks at 0.9371.
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