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Forex Trading: Asian Session Recap and Ranges

Posted by Akhilesh Ganti on May 22, 2013 10:56:00 PM

US dollar bullishness continued in the Asian session with the antipodean currencies bearing the brunt of its strength. Bernanke's admission that QE tapering might be an option fairly soon has given the US unit a boost and might be a game changer for the currency market. Chinese HSBC flash PMI was worrisome as it broke below 50, signaling that the second largest economy in the world is contracting. Australia MI Consumer inflation expectations came out at 2.3% for May which was close to the lower bound of the RBA's target band and in line with their forecast of moderate inflation and moderate growth. 

052313

 

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