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Forex Flash: Europe split highlighted by PMIs - OCBC Bank

Emmanuel Ng of OCBC Bank notes that looking ahead, the latest slew of PMIs out of Europe continue to highlight a North South Divide while Italian political fragility may well remain on the cards.

As such he feels that significant upside for the common currency may continue to be greeted with skepticism ahead of the ECB on Thursday. He writes, “Expect the pair to meet resistance towards the 100-day MA (1.3128) while the pair may also be bordered on the downside by the 1.3000 support level.”

Shifting to GBP/USD he notes that sterling managed an all too brief rally above 1.5150 on the back of better than expected February services PMI reading, and markets may remain guarded towards the pound ahead of the BoE MPC tomorrow. He writes, “We look for the pair to remain somewhat heavy barring a breach of 1.5315 with the recent lows around 1.4985 still in the immediate vicinity.”

Forex Flash: ADP employment report is key - BTMU

Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ believes that e one of the key factors for the dollar performing well is the open-ended nature of QE3 and its linkage to incoming economic data that has been better than data elsewhere
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Forex Flash: AUD/USD receives further bump following Q4 GDP numbers - OCBC Bank

Emmanuel Ng of OCBC Bank notes that AUD/USD received another bump up after 4Q GDP numbers came in slightly firmer than expected, a day after Jan retail sales surprised with an expansion and the RBA sounded more upbeat on economic prospects on Tuesday.
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