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Forex: USD/CHF approaches 0.9300 on Buba’s Weidmann remark

FXstreet.com (Barcelona) - Mirroring the EUR/USD movement the other way around, the USD/CHF is being pumped as the US session unfolds with less demand for the EUR and CHF. Behind the move is investors’ reaction to Buba’s Weidmann remarks, saying the ECB may adjust rate. The pair left the 0.9245 area and climbed all the way up to 0.9294 high, threatening to tackle the 0.9300 mark.

Earlier, the German bund auction saw lower yields, from 1.36% to 1.28%. EMU construction output contracted by -0.8% on the month of February, following a wider fall in February of -2.1% (revised from -1.4%). The annualized figure came in at 0.8%, much better than the prior month data at -9.0% (revised from -7.3%). In Switzerland, Expectations by the ZEW survey surprised with a strong rise from 2.3 to 20 in April, beating the consensus of 5.

Mataf.net analysts point to resistance at 0.9325. On the downside, supports might be found at 0.9210, 0.9180 and 0.9150.

Forex: EUR/USD breaks below 1.3100

The bounce of the euro versus the dollar quickly found resistance at the 1.3145 level, forcing the cross to resume the slide at the beginning of the New York session. The downside pressure for EUR/USD was fueled by Buba's Weidmann saying that ECB may adjust rates if new information warrants.
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France provides adjustment of €20.0B euros in 2014

The French government announced today introduced in the Council of Ministers a new multi-year plan that will involve budgetary adjustment in the order of €20.0B in 2014, aimed at mitigating the mounting deficit and consolidating domestic public finances.
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