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Forex: EUR/AUD rockets higher as China Data spurs Aussie weakness

FXstreet.com (Barcelona) - The EUR/AUD closed the US Session sharply higher up 174 pips at 1.2647. The Aussie Dollar suffered losses across the board as the selling, which initiated during the Asia session after the China GDP release, intensified during the European and US Sessions.

Reaction to the RBA Minutes release earlier has been fairly quiet with the pair flat on the session. “With growth forecast to be a little below trend in 2013, and inflation close to target, members judged that it was appropriate for the stance of policy to be accommodative. The outlook for inflation, as currently assessed, would provide scope for further easing should that be necessary to support demand,”according to the RBA Minutes release.

The FXStreet.com Trend Index is reading slightly bullish on the daily chart, while the OB/OS Index is Neutral. Price is also trading above both the 9dma and 20dma, and both moving averages are upward sloping which is another constructive development.

Forex: AUD/USD capped below 1.0350 post-RBA minutes

With not much news coming out of recent RBA minutes just released, AUD/USD is currently at 1.0330, off session highs at 1.0347, still recovering from late NY fresh 1-month lows at 1.0290, on the back of massive selling-off in commodities and risk aversion outflows following US Boston bombing attacks.
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Forex Flash: Gold has peaked, beginnings of a new chapter - RBS

Gold value evaporation from recent days should be seen as the beginning of a new chapter in gold, says Greg Gibbs, strategist at RBS, adding that "after the size of the fall in the past two days, we might expect a bounce, but the strategy now is to sell on rallies."
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