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US: Reuters/Michigan Cons. Sent. Index fell to 71.8 in March

FXstreet.com (Barcelona) - The US consumer sentiment, gauged by the Reuters/Michigan Consumer Sentiment Index, dropped to 71.8 for the month of March, markedly lower than forecasts at 78.0 and February’s 77.6

Forex: EUR/USD pulls back from above 1.3100

After briefly rising above the 1.3100 mark, the EUR/USD came under selling pressure and retreated back below the 1.3075 level, as downbeat US consumer confidence data offset positive readings from industrial production.
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Forex Flash: CBR leaves rates unchanged and dismiss rate cut speculation – TD Securities

TD Securities analysts saw the Board of Governors of the Central Bank of Russia leaving all three key rates unchanged as unanimously expected (refinancing rate at 8.25%, overnight deposit rate at 4.50% and overnight repo rate at 5.50%). The neutral tone of the statement compensates concerns on rising inflation with the observation that the economy continues to decelerate. “But most importantly, “the Bank of Russia judges that the current level of money market interest rates is appropriate,” dismissing the residual speculation that the CBR is up for an imminent rate cut, in line with the government’s call for looser rates”, wrote analyst Tim Davis, expecting unchanged rates at least until the newly appointed CNR Chairman Nabiullina takes office at the end of Ignatiev’s mandate in June. “At that point, expectations for rate cuts could start building up again”, he added.
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