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Forex Flash: Global growth to accelerate by 2014 – Goldman Sachs

According to the Economics Research Team at Goldman Sachs, “We expect a modest recovery in global growth this year accelerating into 2014. European equities in our view remain good value, especially versus bonds. However, near-term risks are high and domestic growth is sluggish. We search for structural growth stories, which are not already heavily priced; we think sectors such as autos, tech, personal & HH goods and healthcare fall into this category. We believe several sectors are facing continuing structural issues including telecoms and oil & gas and would continue to avoid exposure to these areas despite low valuations.”

Commodities Brief – Precious metals consolidate gains ahead as US equities near 2007 highs

Gold has managed to trade unevenly during European trading, as market participants prepare for a post-sequester session in the United States. The yellow metal managed to start the trading week in positive territory, after reaching as high as 1584.65 (intraday maximum), however this proved to be the pinnacle of pricing thus far. In these moments the price of gold has settled at USD $1578.12 per oz., though MACD indicators are negative and the price is being held in check by the 20 and 50-day SMA. Renewed bond buying in the United States coupled with equities trading near 2007 highs also give reason for gold bears to pause.
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Forex: EUR/JPY keeps "red" as NY opens

The EUR/JPY has been generally pressured today, but after going to as low as 121.27, European flows pulled the cross up to 121.92 high on the opening and ahead of EMU Sentix Investor Confidence. Disappointment there allowed a move back below the opening price. Recent bids ahead of the NY session failed to extend above the 121.78 opening level.
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