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May 9, 2013
Session Recap: Euro weaker, Antipodeans hold onto gains
FXstreet.com (Córdoba) - Major FX crosses remain in their recent consolidative ranges, although Antipodean currencies continue to outperform, underpinned by strong employment reports from both New Zealand and Australia.
The euro gave up some ground after failing to break above 1.3200 on Wednesday, with EUR/USD dropping to the 1.3125 area. The Pound received a lift following BoE decision to stay on hold in May, but it was unable to sustain gains and returned to the 1.5550 zone. USD/JPY is a tad lower at the 98.70 area.
Main Headlines in Europe (in chronological order):
Commodities Brief – Precious metals ease slightly ahead of BoE, crude oil holds above 96.00 barrier
UK: Annual Industrial Production falls 1.4% in March
ECB Monthly Report: Rate cut to support recovery later in the year
Greece Unemployment Rate (MoM) (Feb): 27% vs 26.7% (Jan)
Spanish borrowing costs fall at debt auction
Portugal 1Q Unemployment Rate rises to 17.7% vs 16.9% (4Q)
Buba's Weidmann urges EU countries to continue reform efforts
European equity markets incur tepid losses ahead of BoE
BoE stays on hold in May
The euro gave up some ground after failing to break above 1.3200 on Wednesday, with EUR/USD dropping to the 1.3125 area. The Pound received a lift following BoE decision to stay on hold in May, but it was unable to sustain gains and returned to the 1.5550 zone. USD/JPY is a tad lower at the 98.70 area.
Main Headlines in Europe (in chronological order):
Commodities Brief – Precious metals ease slightly ahead of BoE, crude oil holds above 96.00 barrier
UK: Annual Industrial Production falls 1.4% in March
ECB Monthly Report: Rate cut to support recovery later in the year
Greece Unemployment Rate (MoM) (Feb): 27% vs 26.7% (Jan)
Spanish borrowing costs fall at debt auction
Portugal 1Q Unemployment Rate rises to 17.7% vs 16.9% (4Q)
Buba's Weidmann urges EU countries to continue reform efforts
European equity markets incur tepid losses ahead of BoE
BoE stays on hold in May