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Forex: AUD/USD in session highs, around 1.0315/20

FXstreet.com (Barcelona) - The Aussie dollar is advancing on Thursday after the NAB Business Confidence during the first quarter improved to 2 from -5.

Alexandra Night, Economist at NAB, commented, “Much of the improvement in confidence reflects the unwinding of concern surrounding a number of external risks, including the US fiscal cliff, a hard landing in China and the reduced risk of a further European crisis. While equity price rises and lower borrowing rates are also likely to have helped, it appears the still high AUD remains concerning for the trade dependent industries”.

AUD/USD is up 0.16% at 1.0314 and a surpass of 1.0345 (hourly high/lows Apr.17) would expose 1.0375 (hourly high Apr.17) and finally 1.0397 (MA200d).
On the flip side, support levels are located at 1.0266 (low Mar.12) ahead of 1.0202 (low Mar.11) and then 1.0188 (low Mar.5).

China gains on housing data, Europe up ahead of G20

Many Asian equity indexes closed lower on Thursday, but Mainland China’s Shanghai Composite (+0.16%) gained on a stronger housing report, with the House Price Index rising from 2.1% to 3.6%. The China bird flu is causing some unrest as reports claim it has been spreading from human to human. Japan’s Nikkei Stock Average (-0.75%), Hong Kong’s Hang Seng (-0.13%) and South Korea’s Kospi (-1.19%) lost value, like most indexes in Asia.
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Forex: USD/JPY around 98.00 ahead of G20

The USD/JPY peaked at 98.36 high from 97.64 low during the Asian session. Profit taking pulled the pair to 97.80/85, but the market remains attached to the 98.00 ground. Investors will be eyeing the G20 meeting that will be focusing on the aggressive monetary easing by the Bank of Japan.
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