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Forex Weekly Reports
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Weekly Economic and Financial Commentary - This week's economic data continued to point toward sustained economic growth. The employment situation improved at a better-than-expected pace in January with 243K additional jobs added. Personal income and spending data indicated that personal incomes rose modestly in December, but slightly lower consumer spending resulted in a higher savings rate
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The Weekly Bottom Line - You'd be forgiven if you began this week feeling a bit glum. With the Federal Reserve downgrading their forecasts for economic growth and reinforcing their pessimism with a commitment to leave interest rates at low levels until late 2014, who wouldn't be left feeling a bit melancholy? Even more, who,
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Better Data Drives Risk On, Fed QE3 Off - The past week ended with a string of better-than-expected data releases from key major economies, suggesting the global recovery may avoid a more worrisome downturn. Mostly better than expected PMI's from Europe, UK, China and the US were supplemented on Friday by a much stronger US employment report than was
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Forex Action Insight
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Weekly Review and Outlook: Risk Rally Extended on Global Economic Data, Aussie and Kiwi Gained Most - Risk markets' pull back was rather shallow last week with help of solid global economic data and indeed, major equity indices finally resumed recent rise after much stronger than expected employment data from US. While DOW is still limited by an intraday high made last year at 12876, the close
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EUR/USD Weekly Outlook - EUR/USD turned into consolidation below 1.3233 last week and initial bias remains neutral for some more sideway trading. On the upside, sustained break of 38.2% retracement of 1.4246 to 1.2625 at 1.3244 will resume the rebound from 1.2625 and target 61.8% retracement at 1.3627. On the downside, break of 1.2931
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USD/JPY Weekly Outlook - USD/JPY dropped sharply to as low as 76.02 last week but made a temporary low there and recovered. Initial bias is neutral this week for some consolidations and the pair might recover back towards 55 days EMA (now at 77.14). Though, note that the strong break of 76.55 support confirmed
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