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Markets take a breath in a quiet day; Euro down on sovereign talks

FXstreet.com (San Francisco) - Currencies were trading mixed on Monday as investors were digesting a better than expected corporate earnings but poor economic data in the US. The Dollar Index, posted gains against its rivals hovering over 82.85/90 region from highs above 83.00.

News about the levels about the whole eurozone debt to GDP ratio above 90% and Angela Merkel's words asking European countries to be “prepared to cede sovereign" was pressuring to the downside the single currency. However, the EUR/USD remains above the 1.3000.

Main headlines in the American Session:

US: Chicago Fed National Activity index down to -0.23 in March

Forex: EUR/USD muted after US data

Merkel to Europe: Prepare to cede sovereignty

EU Consumer Confidence improves to -22.3 in Apr from -23.5 in Mar

US: Existing Home Sales fall unexpectedly by -0.6% to 4.92M in March

Forex: USD/JPY falls to test 99.00

Napolitano sworn in for second term as Italian president

Reuters: Canadian police announce arrests of suspects who planned major terrorist attacks

Forex: EUR/USD extends the correction higher

Wall Street closes higher on Monday for second day

The US stocks market has closed Monday's session with gains as investors were fueled by good corporate earnings. Poor US economic data added pressure to the market, but the overall sentiment was positive. Energy and technology were the leaders and the utilities sector was the laggard.
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Forex Flash: Unless China flash PMI satisfies, AUD/USD may probe 1.0150/1.02 - Westpac

According to Westpac strategists, the stabilization in gold prices is temporarily buoying in the Aussie, however, the bank does not ignore the bigger picture, saying that "base metals remain fragile..."
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