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Forex Flash: Bundesbank explains that the ECB is not the lender of last resort - Societe Generale

FXstreet.com (Barcelona) - Sebastien Galy, Senior FX Strategist at Societe Generale notes that the Bundesbank has explained that the ECB is not the lender of last resorts to European governments.

More precisely, he adds that it explains how a country's fixed income market and lending system could start to price in the risk of that country leaving, without it necessarily being linked to a problem of monetary transmission, but linked to particularities of a given country (read make unsound decisions, populism.). He feels that the issue lies at the political level and not that of the mandate of the ECB.

US: PCE rose 0.9% QoQ in Q1

The US Commerce Department informed that the US inflation, measured by the Personal Consumption Expenditures, rose 0.9% QoQ during the first quarter of 2013. The Core reading, which strips...
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Forex Flash: EUR/USD looks bearish ahead - Nomura

Nomura Strategist Saeed Amen has taken a look at EUR/USD and notes that the pair is technically bullish ahead.
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