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20 Feb 2014
Session Recap: USD stronger amid risk aversion
FXStreet (Córdoba) - The FX market enjoyed a lively European session with the release of French, German and Eurozone PMI which came in mainly below market expectations fueling risk aversion triggered by China's disappointing figures.
The dollar is stronger against major competitors, but weaker against the yen on risk-off trading. EUR/USD fell back below 1.3700 to a low of 1.3685 after the weaker than expected PMI figures. GBP/USD is trading lower around 1.6670, while USD/JPY is continues to waver around 102.00 after the large Japanese trade deficit released during the Asian session. The AUD/USD managed to trim steep losses during the European trade and it was last at 0.8980.
During the NY session watch for US CPI, manufacturing PMI, CB leading index and last week's jobless claims.
Main Headlines in Europe:
Switzerland: Trade surplus widens to CHF 2,594M in January
Germany: Producer Price Index slides 0.1% in January
Germany: Flash PMI Manufacturing rises to 54.7 in February
Germany: Flash PMI Manufacturing rises to 54.7 in February
EMU: Manufacturing PMI down a notch in February
EU's Dijsselbloem sees economic situation improving in the Eurozone
Solid demand at Spanish debt auction
ECB's Constancio: EU banks to emerge stronger from review
Commodities: Chinese concerns hit WTI, gold prices supported
The dollar is stronger against major competitors, but weaker against the yen on risk-off trading. EUR/USD fell back below 1.3700 to a low of 1.3685 after the weaker than expected PMI figures. GBP/USD is trading lower around 1.6670, while USD/JPY is continues to waver around 102.00 after the large Japanese trade deficit released during the Asian session. The AUD/USD managed to trim steep losses during the European trade and it was last at 0.8980.
During the NY session watch for US CPI, manufacturing PMI, CB leading index and last week's jobless claims.
Main Headlines in Europe:
Switzerland: Trade surplus widens to CHF 2,594M in January
Germany: Producer Price Index slides 0.1% in January
Germany: Flash PMI Manufacturing rises to 54.7 in February
Germany: Flash PMI Manufacturing rises to 54.7 in February
EMU: Manufacturing PMI down a notch in February
EU's Dijsselbloem sees economic situation improving in the Eurozone
Solid demand at Spanish debt auction
ECB's Constancio: EU banks to emerge stronger from review
Commodities: Chinese concerns hit WTI, gold prices supported