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Forex Flash: AUD/USD likely to remain under pressure in the near term – UBS

FXstreet.com (Córdoba) - The AUD/USD fell 0.3% from 1.0250 to 1.0220, after China's HSBC flash manufacturing PMI dipped to a two-month low of 50.5 in April from 51.6 in March, much lower than market expectations of 51.5, according to the UBS analyst team. "Of particular concern, the sub-index for new export orders fell below 50 to 48.6, reflecting weak external demand".

"Given renewed signs of deceleration in the Chinese economy, the AUDUSD is likely to remain under pressure in the near term, on the back of renewed speculation of an RBA rate cut", UBS says.

Forex: EUR/CHF reaches 1-month high

The euro has continued to push higher against the franc during the American afternoon and recently reached a fresh 1-month high of 1.2273, following a quick drop in the wake of the twitter flash crash.
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Forex Flash: EUR/USD to remain in range if 1.2987 holds

The Euro fell to 2-week lows around 1.2970 in the European session and after attempting to recover ground, the EUR/USD was capped at 1.3030 where the pair resumed its downtrend to trade below 1.3000 again. Now the pair is pricing at 1.2995, just above the key level of 0.2987.
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