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Daily Market News By FXNET
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[QUOTE="FxNet, post: 58245, member: 19407"] [b]Market report 3-02-2014[/b] Asian Session - Quiet session ahead of risk-filled week The currency markets started the new week off with a weak tone, mostly consolidating Friday’s moves and also because investors are being cautious ahead of a busy week full of risk events. There will be two major central bank policy meetings – Bank of England and European Central Bank, both on Thursday. Meanwhile, there Reserve Bank of Australia is also having a policy meeting on Tuesday. On Friday US nonfarm payrolls are expected, which will be highly anticipated and could cause much volatility in the markets. Chinese markets were still enjoying the Lunar Year Holiday today, keeping volumes thin during the Asian session. The euro started the week near a ten-week low against the dollar on growing expectations of a dovish on Thursday following weak CPI data on Friday. EURUSD did very little in Asia, trading sideways between 1.3479-96 and testing Friday’ lows. GBPUSD extended lower in Asia to 1.6419 from Friday’s close of 1.6437. USDCHF was up modestly from 0.9064 to 0.9082. AUDUSD opened in Asia at 0.8766 and fell to 0.8737 after negative Australian data releases. An as expected China official manufacturing PMI out over the weekend was somewhat supportive for the aussie. [/QUOTE]
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