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AUD/USD – Struggling Aussie Dips Below 93

AUD/USD – Struggling Aussie Dips Below 93

Jul 31, 2014

AUD/USD continues to lose ground on Thursday, as the pair trades below the 0.93 level early in the North American session. The pair has surrendered over 100 points this week and is trading at its lowest level since early April. On the release front, Australian Building Approvals was down...

US Initial Jobless Claims Increased in the Week Ending July 26

US Initial Jobless Claims Increased in the Week Ending July 26

Jul 31, 2014

US initial claims jumped by 23,000 to 302,000 in the week ending July 26, 2014 following a downwardly revised 279,000 reading (was 284,000) in the previous week. The latest reading was roughly in line with market expectations for claims to rise to 300,000 in the week. The four-week moving average...

Canadian GDP Rebounds in May

Canadian GDP Rebounds in May

Jul 31, 2014

May 2014 GDP increased by a solid 0.4%, which was in line with market expectations. The increase was up sharply from the 0.1% gains that were recorded in both April and March. The strengthening in growth mainly reflected output in goods-producing industries rising by 0.5% in May relative to the...

USD/JPY – Yen Slides on Sharp US GDP

USD/JPY – Yen Slides on Sharp US GDP

Jul 31, 2014

The Japanese yen continues to sag, as USD/JPY is trading in the high-102 range. The yen lost close to a cent on Wednesday, as US GDP jumped 4.0%. Taking a look at Thursday's events, Japanese data was weak, as Average Cash Earnings and Housing Starts disappointed. In the US,...

EUR’s Fall from Grace Put on Hold Until NFP

EUR’s Fall from Grace Put on Hold Until NFP

Jul 31, 2014

The forex market has had a little bit of everything thrown at itself over the past 24-hours. It looks like an asset class that wants to make up for lost time in a hurry. Finally, fundamental and technical themes are beginning to join the dots that both 'volatility and...

Gold Flat Ahead Of Unemployment Claims

Gold Flat Ahead Of Unemployment Claims

Jul 31, 2014

Gold prices are steady on Thursday, as the metal continues to trade close to the $1300 level. In the European session, the spot price stands at $1295.01 per ounce. In the US, today's highlight is Unemployment Claims. The markets are braced for a rise in claims, which would likely...