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EU finance ministers approve 7-year bailout extension to Ireland and Portugal

FXstreet.com (Córdoba) - European Union finance ministers formally approved on Friday an extension of the maturities of bailout loans granted by the EU to Ireland and Portugal by 7 years.

The 17 eurozone finance ministers agreed on the extension, but as some loans were also issued by a fund backed by all 27 European Union countries (EFSM), the other 10 ministers still have to give their approval.

Forex: USD/CAD retracing from highs

After hitting fresh lows against the greenback in the vicinity of 1.0150, the Canadian dollar is now gathering traction and dragging the cross to the area of 1.0130...
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Forex Flash: US energy prices create a comparative advantage – Deutsche Bank

In terms of energy markets, in their latest Global Economic Perspectives piece, Deutsche Bank look at the impact of the US shale energy revolution, particularly for the manufacturing sector. According to Macro Strategy Analysts J. Reid and C. Tan, “The sharp discount of US energy prices relative to international equivalents provides a significant comparative advantage. As a result, US manufacturing is likely to benefit, rather than be hurt by, the shale energy boom.”
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