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Forex Flash: AUD/USD should find support below 1.0300 - Westpac

According to Sean Callow, FX strategist at Westpac, "following lacklustre retail sales and jobs data plus RBA commentary, we are on alert for the RBA’s next move, with pricing for a 2.75% rate on 5 March rising to 50%."

"Westpac’s base case remains for a March easing but clearly much depends on whether the RBA believes demand needs further stimulus given what it has already delivered" Sean notes.

However, "this week’s calendar probably won’t provide much enlightenment on whether AUD deserves another round of selling, having last week traded lows since Oct" he says, adding that "AUD/USD should find support on dips below 1.0300, tending a little higher against a backdrop of still broadly positive global risk appetite."

Forex: EUR/USD unchanged around 1.3365

EUR/USD is so far unchanged from previous weekly close Friday around current 1.3368, still inside a 20 pip range for the day, with most Asian markets closed today for holiday. Major risk event ahead will be Eurogroup meetings in Brussels all day long, where French Fin Min Moscovici is expected to raise the issue of the strong euro with eurozone counterparts, Reuters reported.
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Forex: EUR/USD indicates additional near-term losses likely - BBH

With EUR/USD last at 1.3372 and mostly all Asian markets closed over holiday, Global Head of Currency Strategy at Brown Brothers Harriman, Marc Chandler, believes now that with “the poor close before the weekend, which includes two successive closes below the 20-day moving average for the first time in three months, indicates additional near-term losses are likely.”
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