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Forex Trading

Lagarde the Fed is “doing everything it can” to support the U.S. economy.

  • Says IMF may raise 2012 U.S. growth forecast from 1.8%.
  • U.S. must deal with housing and the federal deficit.

Aussie trade balance -673 M; worse than the 1500 M survey.

  • January exports fell 8% from a month earlier.
  • Imports fell 1% from a month earlier.

On the worse than expected release the AUD sold lower against all of the major currencies. In the case of the Aussie versus the USD, the pair sold off and found support at 1.0619 where we find the 61.8% fibo line and the 100 hour moving average.

usd/inr looking to test the 50% retrancement level.

usd/inr looking to test the 50% retrancement level after this recently rally to 50.70 area.

oil/usd testing recent highs around 125

oil/usd testing recent highs around 125 which might provide some resistance for the pair.

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Bank of Canada Rate Remains Unchanged at 1.00%

Bank of Canada Rate Remains Unchanged at 1.00%

Positive Inflation Comments by Draghi see Jump Up in Euro

Positive Inflation Comments by Draghi see Jump Up in Euro

Trading at 1.3261 at the time of writing

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