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Forex Flash: Rate cut expectations build - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that weak economic reports and official comments have heightened expectations for rate cuts by the ECB, the Reserve Bank of Australia, and possibly the Norges Bank.

However, they note that the respective currencies have recovered from the initial weakness. They feel that their resilience may be an important indication that the US dollar is set to trade heavier. Following yesterday's disappointing PMI data, Germany's IFO confirms that the euro zone's largest economy has lost its luster and they note that the much-watched business climate component of the IFO survey fell to 104.4 from 106.7 in March. They finish by writing, “The Bloomberg consensus was for a 106.2 reading. The expectations and current assessment measures both fell more than expected.”

Forex: EUR/CHF latest upside totals 300 pips with new jump to 1.2343 high

The EUR/CHF is extending its upside seen since last week, from 1.2140 and already as high as 1.2343. Today’s movement was mainly on the European session, from 1.2265 low to 1.2318 session high, and then US time, from 1.2286 to 1.2343 high, for now. It’s a 300-pip gain since last week.
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Forex: EUR/USD spikes to 1.3114 but stays below 1.3000

The market is deciding what to do with the EUR/USD as the hourly and 4 hours chart hold a negative stance and the pair peaked at 1.3034 high on the European morning. The NY session is seeing the EUR/USD finding support at 1.2980 (1.2974 session low). The market found its way to spike to 1.3014 high quickly before going back below the psychological level at 1.3000.
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