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Forex: GBP/USD rises to fresh daily highs

The pound jumped toward marginal new highs against the dollar as better-than-expected US jobless claims and trade balance figures boosted risk appetite at the beginning of the New York session.

GBP/USD bounced from the 1.4920 area to a high of 1.4969 in recent dealings, and it was last up 0.3% on the day around 1.4960. Nevertheless, the cable continues to trade well within its weekly range.

In terms of technical levels, above 1.4965, next resistances are seen at 1.4980 (Mar 13 high) and 1.5000 (psychological level). On the other hand, supports are seen at 1.4910 (intraday low), 1.4865 (Mar 11 low) and 1.4830 (Mar 12 low).

Forex: NOK/SEK testing intraday lows

The Scandinavian benchmark cross continues to trade on the back foot on Thursday, hovering over weekly lows around 1.1120/25 – last seen in February 2011...
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American equity markets rise after upbeat jobless claims

The US Stock market opened higher Thursday as further signs of a recovery across the US labor market were confirmed with better-than-expected data. In particular, Initial Jobless Claims (March 10) came in at only 332K, against expectations of 350K. Moreover, the Producer Price Index (YoY) grew +1.7% in February, in line with consensus projections. Finally, the Producer Price Index ex-Food and Energy yielded a figure of +0.2% in February, matching expectations of +0.2%.
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