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Forex Flash: Today’s Aussie data reduces pressure on RBA to cut again – NAB

FXstreet.com (Barcelona) - With today's +1.3% monthly increase in February for retail sales in Australia, best figure since early 2010, and first time since 2007 that it comes above 1% for second consecutive month, along with good numbers in the Building approvals front, “today’s data provides more comfort to the RBA that earlier rate cuts are translating into stronger activity,” notes Spiros Papadopoulos, Senior Economist at the National Australia Bank.

“There is still a question mark on the non-mining investment outlook and concerns over the high AUD, but with strong retail data coming through it reduces the pressure on the RBA to cut again in the near-term,” the analyst concludes.

Forex Flash: Gold could fall sharply another $200 - RBS

The fall in gold, according to Greg Gibbs, FX strategist at RBS, appears to strengthen the case for a developing mid-term bearish trend, which had its onset October last year.
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Forex: EUR awaits ECB frozen near 1.2850

The Euro found a compromise between 1.28 and 1.2850 so far this week, as traders have been largely sidelined ahead of today's big risk event in the form of the European Central Bank Monetary Policy announcement.
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