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2 Apr 2013
Forex Flash: Dollar whittles lower against majors following ISM - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that the dollar was whittled lower against the majors on Monday on the back of a moderating ISM reading.
Elsewhere, he notes that the stream of slightly disappointing global data releases (Chinese, India PMI and Japan's Tankan for e.g.) over the weekend left little Easter cheer for the markets with the JPY also strengthening across the board ahead of the BOJ meeting due to conclude on Wednesday. Notably, with little else to distract, the growth-linked currencies were generally weaker across the board.
Looking ahead, apart from Eurozone newsflow related to cyprus and Italy, and any potential North Korean tensions, look to the central banks to possibly set the tone for markets. He adds, “With the Easter long weekend over, look also to European and UK manufacturing PMIs in today’s session.”
Elsewhere, he notes that the stream of slightly disappointing global data releases (Chinese, India PMI and Japan's Tankan for e.g.) over the weekend left little Easter cheer for the markets with the JPY also strengthening across the board ahead of the BOJ meeting due to conclude on Wednesday. Notably, with little else to distract, the growth-linked currencies were generally weaker across the board.
Looking ahead, apart from Eurozone newsflow related to cyprus and Italy, and any potential North Korean tensions, look to the central banks to possibly set the tone for markets. He adds, “With the Easter long weekend over, look also to European and UK manufacturing PMIs in today’s session.”