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22 Feb 2013
Forex Flash: Majors weighed down by FOMC and PMIs - OCBC Bank
Emmanuel Ng of OCBC Bank notes that majors continued to shade lower against the dollar on Thursday post FOMC minutes while the EUR also wavered lower on disappointing economic releases (French and German PMIs) ahead of the weekend Italian elections.
Elsewhere, he sees that JPY also picked higher across the board as investors took stock of its recent weakness. This morning, the AUD blipped higher after comments from both Treasurer Swan and the RBA’s governor confirmed that the RBA remains in a neutral setting. Looking ahead he writes, “For today, apart from the drag from soft economic numbers, the EUR may also continue to be apprehensive towards the upside on concerns that the weekend Italian elections over the weekend may result in a hung parliament.”
Elsewhere, he sees that JPY also picked higher across the board as investors took stock of its recent weakness. This morning, the AUD blipped higher after comments from both Treasurer Swan and the RBA’s governor confirmed that the RBA remains in a neutral setting. Looking ahead he writes, “For today, apart from the drag from soft economic numbers, the EUR may also continue to be apprehensive towards the upside on concerns that the weekend Italian elections over the weekend may result in a hung parliament.”