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Session Recap: The Greenback trades lower on US data

FXstreet.com (San Francisco) - The Greenback traded lower on Monday as investors sold dollars following the weaker-than-expected ISM manufacturing data. Stocks trades lower too in a quiet session. The EUR/USD recovered from 1.2770 and test the 1.2870, currently the pair is trading at 1.2850. The GBP/USD consolidates position above the 1.5200 region.

In the same line, the USD trade lower against the Japanese yen with the USD/JPY collapsing from 94.30 to reach levels around 93.15, lowest since March 6th. The USD/CHF declined to test the 94.60 region, the USD/CAD lost ground to finish close to the 1.0160 and the AUD/USD recovered early losses from 1.0385 to close around the 1.0420.

Main headlines in the American Session:

US: ISM Manufacturing PMI falls to 51.3 in March

American equity markets open negative after Holiday weekend

Forex: GBP/USD peaks at 1.5241 on US session

Forex: EUR/USD in session highs around 1.2840/45

Forex: USD/JPY breaks down 93.25

Commodities Brief – Gold trades at 1600, silver falls below 28.00

Forex: USD/CAD extends its intraday decline

Forex: US Dollar Index in red below 83.00

Forex: EUR/USD stabilizes around 1.2850

Spain will revised down its 2013 GDP forecast to -1.0%; Negotiating new deficit target

Wall Street closes lower on US data

Forex Flash: RBA to hold today but easing bias to persist - NAB

The RBA monetary policy meeting is due today at 3.30GMT. According to NAB, "while the market has been busily pricing out the likelihood of any further reduction to the rate in this cycle (8% chance of a cut today), it is worth noting that the AUD/USD has, in trade weighted terms, appreciated by some 3% since the RBA last moved rates in December."
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Forex: EUR/USD recovers ground but the risk is on the USD/JPY

In a quiet session, the EUR/USD recovered ground from 1.2770 to break above the 1.2820 and test the 1.2865 level. After that, the Euro trade on consolidation mode to close the Monday's session just below the 1.2850. The Greenback trader weak on the session and lost ground against its major competitors.
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