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Session Recap: Currencies consolidate yesterday's levels; everybody waits Italy

FXstreet.com (San Francisco) - The USD traded lower on Thursday but not too much as currencies remained around Wednesday closes. Market was waiting for Italy resolutions but the Italian parties didn't reach an agreement. Weak US fundamental data pressured the risk appetite to the down and investors kept the cautions mode across the day.

Meanwhile, the German parliament approved the rescue package for Cyprus today. The vote fueled the sentiment and the Euro rose but, as said before, US data wasn't good to sustain the confidence. However this success, Europe is still waiting for a government in Italy.

Main headlines in the American session:

US: Initial Jobless Claims rose to 352K

Bundestag gives the green light to the Cypriot bailout

Commodities Brief – Gold prices capped at 1400 barrier, crude loses grip on 88.00 level

American equity markets continue to slide Thursday

US: Philadelphia Fed Manufacturing Survey disappoints at 1.3 in April

US: CB Leading Indicator contracts by -0.1% in March against expectations

Rumors of French banking trouble hitting EUR

Shares of SocGen hit hard

EUR/USD reverses losses; testing session highs

ECB’s Weidmann warns of FX manipulation

Italian parliament fails to elect president on second ballot

Forex: GBP/USD back below 1.5300

Forex: GBP/USD back below 1.5300

ForexLive Americas wrap: Chop chop

Wall Street closes sharply lower

Wall Street closes sharply lower

The US stocks market closes Thursday with losses as investors were disappointed from economic data and weaker-than-expected corporate earnings reports. Health care, techs and banks dragged the indexes to close down its second consecutive session.
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Forex: EUR/USD consolidates at 1.3050 after failing to break the 1.3100

The EUR/USD traded in recovery mode on Thursday following the Wednesday sell. Early in the day, the pair rose from 1.30 lows to test the 1.3100, but Euro didn't have enough punch and the pair was rejected at this level to price back around the 1.3050.
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