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Forex Flash: EUR/USD runs against data mix – UBS

FXstreet.com (Córdoba) - EUR/USD was creeping higher on Tuesday, despite a data mix, that should have strengthened the USD, according to the UBS analyst team. "The German ZEW survey gave another confirmation that investors feel uneasy about the economic development. In the US, on the other hand, housing starts were quite upbeat and dismissed worries that the US housing recovery comes to an end".

"We still expect EURUSD to top out soon", says UBS. "In particular, the weak commodity prices should eventually support the USD".

Forex: USD/JPY declines to 97.35

The USD/JPY was unable to holds above the 98.00, and after being rejected from the 98.15, the pair declined around 80 pips to test the 97.35 level. Currently the USD/JPY is trading at 97.50.
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Wall Street rallies on Corporate earnings

The US stocks market has closed sharply higher on Tuesday after recovering ground from the 2013 biggest sell-off performed on Monday. Better-than-expected corporate earnings and economic reports on Inflation and Housing data fueled investors confidence.
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