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Forex Flash: Gilts eye 114.47/30 support – RBS

According to Dmytro Bondar, a Technical Markets Strategist at RBS, “Gilts experienced another strong selloff after breaking its tightened range, as the 115.11 support was tested. The price action suggests there is more downside likely and the 114.47/29 stands as the main support region for now. This is the area of 200% Fibonacci projection from the December 2012 selloff and retracement of the March-June extremes. Below that the 113.83 and the 113.43 would be expected to provide support. On the upside, 115.50 stands out as an important retracement, which would likely limit any bounces.”

Forex Flash: EUR has a weak hand in the currency wars; EUR to end year on a firmer note - Rabobank

Following the 1,000 pips strengthening from November lows at 1.2660 to reach 15-month highs at 1.3710 the February 1st, the EUR/USD has been trading lower to price today close to the 1.3300 frontier.
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Forex Flash: Chinese credit boom could roil AUD – UBS

Credit growth in China, measured by total social financing, came in at a whopping CNY2.54 trillion during the final month of the year, a new record. Even taking seasonal effects into consideration (analyzing January data in China is often more art than science), the general consensus is that the figure is extraordinarily high. As much of Asia returns from the Lunar New Year holidays, investors will be dissecting the data and more importantly, try to figure out where the money went/will go in the coming months and whether this marks a beginning of a new credit boom.
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