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Forex Flash: AUD anchored as overnight sees data bounce – Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that the overnight session saw a jump in Chinese HSBC services PMI data, a decline in the Australian trade deficit and UK BRC Retail Sales.

However, the main news was that the RBA decided to hold rates at 3%, but left the carrot of further easing dangling in front of the market. He writes, “Short-term rates are still therefore, pricing in some more easing down the road and this will help to anchor the AUD. AUD has completely missed out on the global risk rally in January, and is now likely to re-test of the lower end of its rather dull USD 1.03-1.06 range.”

Forex Flash : US Dollar & Yen firm as political uncertainty rises in Europe – BTMU

Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ notes that the USD and Yen have continued to firm in the Asian trading session, reflecting rising political uncertainty in Europe which is resulting in a re-widening of the Eurozone sovereign credit risk premium.
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UK: PMI Services expands again in January

UK PMI Services started expanding again in January, rising to 51.5 points from 48.9 points registered in December, according to data released today by Markit. Market consensus pointed to a slower contraction at 49.5 points.
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