Forex Flash: EUR/USD may slide to 1.28/1.29 area – TD Securities

Yesterday, the EUR/USD closed below the 40-day MA and traded at fresh 4-week lows, which should drive systemic traders and trend followers to revert to bearish strategies (sell rallies) from here, according to TD Securities. "Weak data in Europe, modestly wider peripheral spreads and less supportive EZ/US short-term yield spreads support the soft undertone in the EUR near-term (test of the low 1.31 area likely)", wrote analysts Shaun Osborne and Greg Moore, suggesting a potential slide in EUR/USD to the 1.28/1.29 area and pointing to Fed Bullard's speach as the real focus of the day.

Feb 21, 2013

American equity markets unable to rebound Thursday

The US Stock market experienced a definitely negative opening Thursday, as the drama and fears of yesterdays collapse carried over into today, compounded by the release of uneven economic data out of the United States. In the United States, the Consumer Price Index (YoY) grew +1.6% in the month of January, in like with consensus expectations. Moreover, the Consumer Price Index (MoM) was unchanged in January, missing estimates calling for +0.1%. The Consumer Price Index ex Food and Energy (MoM and YoY) was reported at +0.3% in January (vs. 0.2% expected) and +1.9% in January (against projections of +1.8%) respectively. Finally, Initial Jobless Claims (February 17) yielded a figure of 362K, against 355K expected.

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Feb 21, 2013

US Philadelphia Fed Manufacturing Survey: -12.5 in Feb from -5.8 in Jan

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