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Forex Flash: USD more correlated with economic data than in the past - RBS

FXstreet.com (Barcelona) - According to Greg Gibbs, FX Trading Strategist at RBS: “At the margin, the Fed statement should be supportive for the USD,” the analyst suggests, “by increasing expectations that moderation on its QE policy is coming,” he explains.

“However, much will depend on the data flow,” Greg notes, “and thus, we may conclude that the USD will be more correlated with economic data than in the past,” he adds.

Forex: AUD/JPY stalls below the 99.80 mark

AUD/JPY is last at 99.62, pretty much unchanged for last 9 hours. The cross has recovered from session lows at 99.40 following worst trade deficit in Japan for the record, and now contained below the 99.67 as political uncertainties in Australia grow few months ahead of general elections in Sept as PM Gillard has been asked to call a spill from the very members of her own party.
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Forex Flash: Despite China HSBC PMI, recovery a shallow one - Nomura

The HSBC China flash manufacturing PMI stood at 51.7 in March from 50.4 in February, stronger than expected (Consensus: 50.8; Nomura: 51.0), says Zhiwei Zhang, economist at Nomura.
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